Pa. Department Of Banking Took 26 Enforcement Actions In Q2

nnsylvania Department of Banking took 26 enforcement actions and suspended three mortgage licenses during the second quarter of the year. Enforcement highlights included six cease-and-desist orders against companies engaged in unlicensed loan modification activities, consent agreements with 10 mortgage loan companies for violations of the Mortgage Licensing Act and/or unlicensed activity, and a cease-and-desist order against an Internet payday lender that allegedly charged interest and fees in excess of state law. A comprehensive list of enforcement actions taken by the state's banking department is available online at [link=http://www.banking.state.pa.us]www.banking.state.pa.us[/link]. SOURCE: [link=http://www.banking.state.pa.us]Pennsylvania Department of Banking

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