(a)Notwithstanding any other provisions of law to the contrary and consistent with the objectives of this chapter as set forth in Code Section 7-1-3 and subject to the procedures provided in regulations of the department, a financial institution may provide financial services to its customers either directly or through employment of duly licensed persons, provided that such financial institution or its licensed employee or agent has qualified under other laws otherwise applicable to other providers of such financial services.
(b)Where financial services are being performed by a person or corporation for a financial institution, such person or corporation shall be subject to:
(1)Examination and investigation by the department to the same extent as if the services were performed by the fi
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(a) Notwithstanding any other provisions of law to the contrary and consistent with the objectives of this chapter as set forth in Code Section 7-1-3 and subject to the procedures provided in regulations of the department, a financial institution may provide financial services to its customers either directly or through employment of duly licensed persons, provided that such financial institution or its licensed employee or agent has qualified under other laws otherwise applicable to other providers of such financial services. (b) Where financial services are being performed by a person or corporation for a financial institution, such person or corporation shall be subject to: (1) Examination and investigation by the department to the same extent as if the services were performed by the financial institution on its own premises; (2) Regulation by the department in regard to such services to the same extent as if such services were being performed by the financial institution for its own internal benefit or as an extension of the range of financial services products offered to customers of the financial institution; and (3) All enforcement proceedings made available to the department in this title. (c) In the event of conflicting statutory responsibilities, except as otherwise provided by law, the department shall not grant licenses to providers of financial services to or through financial institutions. The department shall be the responsible authority in reviewing, authorizing, or otherwise regulating, consistent with this chapter, the contractual relationship entered into by financial institutions for the provision of such services or incidental to application for further licensing. (d) For purposes of this Code section, "financial services" shall include, but is not limited to, business and consumer financial record keeping, investments, planning and advisory assistance, surety, brokerage, data processing, electronic fund transfers, information services, and protective services performed for a financial institution which are normally performed by the financial institution for its own benefit or provided to the customers of the financial institution incidental to its conduct of the banking business. The department may further define "financial services" to include other activities of a financial nature which it determines to be consistent with the safe and sound operation of a banking business, not otherwise in violation of this chapter, and in the public interest. (e) The department may, by regulation, prescribe fees to be paid for examinations of a person or corporation that performs financial services for a financial institution. (f) Notwithstanding Code Section 7-1-70 , the department may furnish a copy of any report of a financial service provider prepared by the department to the financial institution serviced by the financial service provider.