State of Georgia - Department of Banking and Finance
State of Georgia - Department of Banking and Finance
State of Georgia - Department of Banking and Finance
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NON-DEPOSITORY FINANCIAL INSTITUTIONS DIVISION<br />
SUMMARY OF ACTIVITIES FOR 2010<br />
Check Cashers<br />
MONEY SERVICE BUSINESSES (MSB) STATISTICS<br />
Check Sellers <strong>and</strong> Money Transmitters<br />
Since 1965, the<br />
<strong>Department</strong> has been<br />
supervising companies<br />
that sell travelers’ checks<br />
<strong>and</strong> money orders to<br />
people in <strong>Georgia</strong>, <strong>and</strong><br />
has been licensing<br />
money transmitters since<br />
2003.<br />
At the end <strong>of</strong> the year, 23<br />
check sellers having over<br />
11,000 agents throughout<br />
the state were licensed to<br />
do business in <strong>Georgia</strong>.<br />
At the end <strong>of</strong> the year, 83<br />
money transmitters<br />
having over 2,600 agents<br />
throughout the state were<br />
licensed to do business in<br />
<strong>Georgia</strong>.<br />
The <strong>Department</strong><br />
continued to<br />
experience a moderate<br />
amount <strong>of</strong> application<br />
activity for check<br />
casher licenses/<br />
registrations during<br />
2010.<br />
During 2010, there<br />
were 261 applications<br />
for new or reinstated<br />
check casher licenses<br />
or registrations, <strong>and</strong><br />
157 companies either<br />
closed or did not<br />
renew their licenses<br />
during the year. This<br />
represents a net<br />
increase <strong>of</strong> 104 or<br />
11.5% from the<br />
previous year.<br />
Page 25 2010 Annual Report
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