Vertex Target Bank Ordered to Cease and Desist by Georgia Banking Department

GA DBF Press Releases

Filed March 23rd, 2026

Detected March 24th, 2026

Summary

The Georgia Department of Banking and Finance has issued an Order to Cease and Desist against Vertex Target Bank for unlawfully conducting banking business in Georgia without a charter. The order requires the bank to immediately stop claiming to be a bank and providing financial services to Georgia citizens without authorization.

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What changed

The Georgia Department of Banking and Finance (DBF) has issued an Order to Cease and Desist against Vertex Target Bank d/b/a Vertext Target Bank and vertextargetonline.com. The Department found no record of Vertex Target Bank being approved to organize or conduct banking business in Georgia, deeming its operations unlawful. The order mandates that Vertex Target Bank immediately cease and desist from all activities that claim it is a bank or provide financial products/services to Georgia consumers without the DBF's written authorization.

This enforcement action requires Vertex Target Bank to immediately halt all unauthorized banking activities targeting Georgia consumers, including online operations. Failure to comply will likely result in further legal action and penalties. Regulated entities should ensure they possess the proper charters and authorizations before conducting banking business within Georgia or offering services to its citizens. The DBF emphasizes that operating as a bank without a charter is illegal.

What to do next

Immediately cease and desist from claiming to be a bank in any form reaching Georgia consumers.
Immediately cease and desist from providing financial products or services to Georgia citizens without DBF authorization.
Immediately cease and desist from engaging in the business of banking from within or into the State of Georgia.

Source document (simplified)

Atlanta, Georgia – Today, the Department of Banking and Finance, State of Georgia (“Department”) issued an Order to Cease and Desist to Vertex Target Bank d/b/a Vertext Target Bank d/b/a vertextargetonline.com. (Collectively, “Vertex Target Bank”) . It is unlawful to conduct and/or be affiliated with a banking business in Georgia without a bank charter. The Department has no record of Vertex Target Bank and has not approved this entity to organize a bank and/or conduct a banking business in or from Georgia.

The terms of the Order include the following:

Immediately Cease and Desist from claiming to be a bank, in any form, including any internet website, marketing material, signage, correspondence, and/or legal documentation that could reach Georgia consumers.
Immediately Cease and Desist from claiming to be a bank, in any form, including any internet website, marketing material, signage, correspondence, and/or legal documentation originating from within this State.
Immediately Cease and Desist from providing any financial products or services to the citizens of Georgia by any delivery system, including the internet, while using the word “bank” or any derivative thereof without the written authorization of the Department.
Immediately Cease and Desist from providing any financial products or services from within this State by any delivery system, including the internet, while using the word “bank” or any derivative thereof without the written authorization of the Department.
Immediately Cease and Desist from engaging in the business of banking from within the State of Georgia and/or into the State of Georgia.

Contact:

Mathew Robinson

Director for Supervision

Phone: (770) 986-1627

E-mail: [email protected]