Effective July 1, 2020, the regulation of consumer installment loans of $3,000 or less (“installment loans”) transferred from the Office of the Insurance Commissioner to the Department of Banking and Finance (“Department”). For more information, please visit https://dbf.georgia.gov/installment-loans.
As of August 7, 2020, the Industrial Loan Portal is closed and installment loan companies will not be able to submit information through the portal. Beginning September 1, 2020, installment lender licensees will be required to transition to the Nationwide Multistate Licensing System (NMLS). The Department will use this system to receive and process installment lender-related applications, change requests, and other information as to be determined by the Department. For more information, please visit https://dbf.georgia.gov/installment-loans/nmls-transition.
After the second quarter of 2020 tax period, it is the intent of the Department to have all future tax payments due and payable solely on a bi-annual basis through an electronic portal established by the Department. Additional information on this process will be provided in the future. No payments for installment lender tax periods starting on July 1, 2020 or later should be remitted until this additional information is provided.
Questions may be sent to firstname.lastname@example.org. For a list of contacts at the Department of Banking and Finance, please visit https://dbf.georgia.gov/installment-loans/gila-contacts.