The merger of the Pennsylvania Department of Banking and the PennsylvaniaSecurities Commission, signed into law by Gov. Tom Corbett in July,became effective Monday.

The office is now known as the Pennsylvania Department ofBanking and Securities.

The merger was made possible by Act 86, which was signed intolaw by Corbett on July 2. Since that time, the Department ofBanking and the Securities Commission have been working together toensure a seamless transition, according to Corbett's office.

Mailing addresses, email addresses and telephone numbers forindividual staff members will remain the same for both entities.Executive offices for the new Department of Banking and Securitieswill reside at the current Department of Banking location inHarrisburg, Pa.

During this transition period, the institutions andprofessionals that are chartered and licensed by the Department ofBanking will see no changes, said Department of Banking SecretaryGlenn Moyer.

“Reducing the size and cost of state government for taxpayers isa top priority for my administration. The merger of these two stategovernment entities will lead to an initial savings of $1 million,with more possible as we move forward with the consolidation,”Corbett said.

Cost savings were achieved in various ways, including thereduction of duplicative services and operations, according to theCorbett's office.

Contact information for the new Department of Banking andSecurities is below:

• Banking issues: 17 N. Second St., Suite 1300, Harrisburg, Pa. 17101
• Securities issues: Eastgate Office Building, 2nd Floor, 1010 N. Seventh St., Harrisburg, Pa.17102-1410
• Consumer inquiries and complaints: 1-800-PA-BANKS (1-800-722-2657)
• Securities and investor inquiries and complaints: 1-800-600-0007
• Website: www.dobs.state.pa.us