The Office of Thrift Supervision imposed a $100,000 penalty on a Georgia thrift Monday for making unauthorized changes to its business plan.

Commerce Bank, a $27 million-asset company in Atlanta, began operating in August 1998. The thrift was supposed to issue consumer, mortgage, and small-business loans via an Atlanta office, the OTS said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.