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Banking regulator highlights MALPB charters, IT recovery and AI confidentiality needs
Summary
The banking commissioner described the department's expanded business lines including registration of litigation finance companies, support for Georgia's merchant-acquirer limited-purpose bank (MALPB) charters, and IT investments to shorten backup recovery times and ensure AI tools preserve confidential data.
The commissioner appearing for the Department of Banking told the Appropriations subcommittee the agency is adapting to new business lines and technological needs while supporting staff recruitment.
The commissioner said the department took on registration of litigation finance companies as part of tort-reform work and emphasized support for the state’s MALPB…
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