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Can you summarize 5 MSAC Part 4?
DEPARTMENT OF BANKING AND CONSUMER FINANCE > Organizational Rules
Short Summary
The provided legal document content pertains to the authority and responsibilities of the Department of Banking and Consumer Finance in examining banking institutions in the State of Mississippi. It establishes the organizational structure of the department and outlines the qualifications and restrictions for state banking examiners. The document also specifies the department’s responsibility for overseeing and examining various financial activities, including bank examinations, credit union examinations, trust companies, consumer loan broker activities, insurance premium finance companies, money transmitter activities, debt management activities, small loan companies, pawn shops, title pledge activity, check cashers, motor vehicle sales, credit availability activities, and mortgage companies. The document provides information on reporting requirements, examination procedures, and the powers and duties of the commissioner and the department in relation to these entities. It also mentions the requirement for fingerprinting and criminal history record checks for employees and applicants. The document concludes by providing contact information for the Department of Banking and Consumer Finance and directing the public to additional information on the department’s website.
Whom does it apply to?
Department of Banking and Consumer Finance, banking institutions in the State of Mississippi, state banking examiners, various financial entities such as credit unions, trust companies, consumer loan brokers, insurance premium finance companies, money transmitters, debt management companies, small loan companies, pawn shops, title pledge activities, check cashers, motor vehicle sales, credit availability activities, and mortgage companies
What does it govern?
Authority and responsibilities of the Department of Banking and Consumer Finance in examining banking institutions in the State of Mississippi, organizational structure of the department, qualifications and restrictions for state banking examiners, oversight and examination of various financial activities
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Mississippi