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Merged banking, securities departments debut

By - Last modified: October 1, 2012 at 11:40 AM

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The state's newly consolidated Department of Banking and Securities opened for business today.

The department was formed by the combination of two separate agencies, the Department of Banking and the Pennsylvania Securities Commission. Gov. Tom Corbett in July signed the law authorizing the merger.

Mailing addresses, email addresses and phone numbers remain unchanged, according to a media release.

The merger will save $1 million initially and more in the future, officials have said.

"The merger will allow the same level of service at lower costs to Pennsylvania taxpayers," Corbett said in a statement.

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