New Jersey enacts law capping surcharges
Payments Dive
AUGUST 23, 2023
New Jersey’s governor signed a new law capping credit card surcharges, limiting the amount merchants can charge for processing a transaction.
New Jersey Related Topics 
New Jersey Appellate Division Affirms Dismissal of Consumer Fraud Class Action Against Debt Collector under the New Jersey Consumer Fraud Act
CFPB Monitor
OCTOBER 12, 2023
The Superior Court of New Jersey, Appellate Division in Jennifer Woo-Padva v.
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New Jersey Outlaws Cashless Businesses
PYMNTS
MARCH 19, 2019
New Jersey has passed a law banning cashless stores and restaurants, according to reports. New Jersey is the second state to outlaw cashless stores after Massachusetts, which signed a similar bill into law back in 1978. The bill was signed by Gov.
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New Jersey Attorney General settles lawsuit against merchant cash advance providers
CFPB Monitor
JANUARY 13, 2023
The New Jersey Attorney General recently announced a settlement in its lawsuit against Yellowstone Capital LLC, its parent company, and various subsidiaries and affiliates alleging that the defendants violated the New Jersey Consumer Fraud Act (CFA) and the New Jersey.
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New Jersey legislature passes credit card surcharge bill
Payments Dive
JULY 11, 2023
Lawmakers passed a bill that limits the surcharge a merchant can impose on consumers to the cost of processing a credit card transaction.
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Cross River drops lawsuit against Fiserv unit
Payments Dive
NOVEMBER 7, 2024
The Fort Lee, New Jersey-based lender dismissed a lawsuit that it had filed against First Data Merchant Services last year.
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New Jersey Shows The Good And Bad Of Gambling Payments Progress
PYMNTS
OCTOBER 5, 2018
Among recent developments is the addition of PayPal to the sportsbook operated by DraftKings in New Jersey. Despite the deals with PayPal (in New Jersey), getting money on and off online betting sites isn’t as seamless as gamblers and operators would like,” reads a recent column in The Lines.
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New Jersey appellate court decision limiting Atalese to consumer and employment arbitration clauses may fuel FAA preemption argument
CFPB Monitor
FEBRUARY 21, 2023
In 2014, the New Jersey Supreme Court held in Atalese v. Legal Services Group, L.P. that in order to be enforceable, arbitration clauses must contain an express waiver of the parties’ right to seek relief in a court of law. Earlier this month, in County of Passaic v. Horizon Healthcare Services, Inc. Continue Reading
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New Jersey federal court rules misleading collection letter alone does not establish Article III standing
CFPB Monitor
JANUARY 10, 2023
In an unpublished opinion, a New Jersey federal district court has ruled that a plaintiff did not have Article III standing to assert a claim under the Fair Debt Collection Practices Act based solely on her receipt of an allegedly.
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New Jersey Attorney General sues merchant cash advance providers
CFPB Monitor
DECEMBER 18, 2020
The New Jersey Attorney General recently filed a lawsuit in New Jersey state court against Yellowstone Capital LLC, its parent Fundry.US
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CFPB settles with New Jersey debt buyer for alleged FDCPA and CFPA violations based on unlicensed collection activity
CFPB Monitor
DECEMBER 29, 2020
Earlier this month, the Consumer Financial Protection Bureau issued a consent order against a New Jersey debt buyer accused of threatening and suing consumers to collect debts in states where it did not have a legally required license.
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New Jersey Homeowners Insurance: Averages Rates for Coverage
MyBankTracker
JANUARY 20, 2021
Homeowners insurance in New Jersey can provide the protection you need. But although there are several benefits to buying homeowners insurance in New Jersey, it’s important to understand how your policy works and know how much you might pay for a homeowners insurance policy with the proper coverages. smoke damage.
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New Jersey Names Student Loan Ombudsman
CFPB Monitor
OCTOBER 9, 2020
Last week, the New Jersey Department of Banking and Insurance (DOBI) announced that it was designating Raghu Kakumanu as the state’s Student Loan Ombudsman. Kakumanu is the first [PERSON] to occupy this role, which was created under New Jersey’s student loan servicer licensing law enacted last year.
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New Jersey Car Insurance: How to Qualify for the Cheapest Rates
MyBankTracker
MARCH 19, 2021
There are two types of car insurance policies in New Jersey: basic or standard. The average New Jersey car insurance rate (with “full coverage”) is $1,346 per year. What are Average Car Insurance Rates in New Jersey? Factors that Will Affect Your New Jersey Car Insurance Premium.
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Linkbancorp selling New Jersey operations to credit union
American Banker
MAY 10, 2024
American Heritage Federal Credit Union in Philadelphia plans to acquire three branches and $105 million of deposits from Linkbancorp. The deal is part of a growing number of transactions involving credit unions buying whole banks or portions of their branch networks.
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Michael Shriner named CEO of New Jersey's BCB Community Bancorp
American Banker
DECEMBER 29, 2023
The community banking veteran will succeed Thomas Coughlin, who spent nine years as CEO of the Bayonne, New Jersey-based bank.
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New Jersey files lawsuit against two buy-here pay-here used car dealers
CFPB Monitor
MARCH 21, 2019
On March 7, New Jersey Attorney General Gurbir S. The complaint alleges that these practices violated the New Jersey Consumer Fraud Act, the New Jersey Motor Vehicle Advertising Regulations, the Automotive Sales Regulations, and the state Used Car Lemon law and regulations.
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Are New Jersey and South Dakota becoming the new tech hiring hotspots?
BankInovation
AUGUST 28, 2020
According to the Mendix 2020 Software Developer Drought Index, counties in New Jersey, South Dakota and Mississippi have the largest gaps between tech jobs and available talent. “The Tech hiring is no longer confined to Silicon Valley.
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Fresh off deal closing, Provident in New Jersey to shutter branches
American Banker
JUNE 13, 2024
The bank said it would reduce its physical footprint by nearly 15% as part of an effort to reduce overlapping operations, drive cost savings and meet profitability targets tied to its May acquisition of Lakeland Bancorp.
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New York Raises Check Cashing Fees
Perficient
FEBRUARY 26, 2021
of New York State’s Superintendent’s Regulations which provides for an annual fee adjustment, based upon the increase in the consumer price index (CPI) of the New York – Northern New Jersey – Long Island, NY – NJ-CT-PA area for all urban consumers. Interestingly, New Jersey has a different percentage.
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309 New Jersey, Pa. credit union foundations to merge
American Banker
DECEMBER 29, 2020
Last year, the Pennsylvania Credit Union Association and the New Jersey Credit Union League merged to form the CrossState Credit Union Association, and now the foundations of the two groups are combining.
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NJ official: No reason to doubt Fiserv job growth plan
Payments Dive
NOVEMBER 28, 2022
Fiserv “has given us no indication that (the company has) any change of plans in New Jersey,” said Tim Sullivan, CEO of the state’s Economic Development Authority.
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Fed approves $1.3 billion merger of two New Jersey banks
American Banker
APRIL 11, 2024
The Federal Reserve Board signed off on Provident Financial Services' acquisition of Lakeland Bancorp. The newly combined bank will be the seventh largest in the state.
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NJ Legislators Propose Tighter Data Privacy Regulations
PYMNTS
MARCH 2, 2020
Lawmakers in New Jersey are proposing a bill to solidify data privacy guidelines and inflict tougher limits on the tech industry, The Wall Street Journal reported on Monday (March 2). The bill mandates that tech firms get authorization from New Jersey consumers before collecting and selling information to third parties.
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New York To Sunbelt State Tourists: Stay Home
PYMNTS
JUNE 24, 2020
With coronavirus infection rates soaring in the Sunbelt, the governors of New York, Connecticut and New Jersey are teaming up to slap a 14-day quarantine on travelers from states where the deadly virus is spiking. New York Gov. Andrew Cuomo, New Jersey Gov. Phil Murphy and Connecticut Gov.
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227 New Jersey Attorney General Leads Actions Against the U.S. Department of Education for Restricting Information Sharing with State Law Enforcement Agencies
CFPB Monitor
SEPTEMBER 23, 2019
Last week, New Jersey Attorney General Gurbir Grewal took the lead in pursing two actions against the U.S. This is the third letter sent by the New Jersey attorney general to the Department related to similar changes.
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Wakefern unveils frictionless checkout pilot
Payments Dive
JANUARY 18, 2023
The supermarket operator teamed with tech firm Trigo to open an autonomous convenience store at its New Jersey corporate campus.
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Participation in office loan trips up New Jersey bank
American Banker
SEPTEMBER 15, 2023
Commercial real estate loans are a growing area of concern for banks. But OceanFirst says its exposure to a troubled shared credit tied to a Manhattan office building isn't a sign of broader problems in its portfolio.
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Boxed And Costco Have Their Roots In A 1970s New Jersey A&P Store
PYMNTS
FEBRUARY 6, 2018
A&P named its concept Warehouse Economy Outlet — or “Where Economy Originates” — and opened its first location in Pennsauken, New Jersey, in 1971. With warehouses in New Jersey, Dallas, Las Vegas and Atlanta, Boxed delivers bulk items such as toilet paper and pet food to consumers’ front doors.
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New Jersey enacts licensing and other requirements for student loan servicers
CFPB Monitor
AUGUST 7, 2019
On July 30, 2019, Acting New Jersey Governor Sheila Oliver signed into law SB 1149 , which requires student loan servicers to be licensed, creates an Office of the Student Loan Ombudsman within the NJ Department of Banking and Insurance, imposes various requirements, and prohibits certain conduct. Licensing requirement.
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Public transit systems look to drive down costs, boost ridership with contactless fares
Payments Dive
DECEMBER 18, 2018
Public transit systems in New Jersey, New York, Chicago and other major metropolitan areas are converting their systems to accept contactless payments, which experts say will reduce costs and help improve ridership.
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Kearny expanding in northern New Jersey with MSB purchase
American Banker
DECEMBER 19, 2019
The company will pay $94 million for a bank with operations in New Jersey's Somerset and Morris counties.
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After merger fails, TD inks smaller community plan in New Jersey
American Banker
AUGUST 14, 2023
The Canadian bank committed Monday to lending and investing over $2 billion in the Garden State's lower-to-middle income communities over the next three years. A $50 billion, multi-state agreement was scrapped earlier this year after TD failed to get approval to buy First Horizon Corp.
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When a bank fails after engaging in redlining, who's responsible?
American Banker
OCTOBER 31, 2024
New Jersey officials want both the acquirer of its remains, Fulton Bank, and the FDIC to assume some responsibility. Republic First Bank allegedly discriminated against minority borrowers before it went under in April.
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NJ Launches First Mobile App For Lottery Tickets
PYMNTS
DECEMBER 13, 2019
New Jersey is the first state lottery to authorize lottery courier services formally, enabling the placement of orders via a mobile app, according to an announcement from the company. . Players in New Jersey can place orders in the app for favorites like Powerball, Mega Millions, Cash4Life, and New Jersey’s Pick-6.
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NJ-based Provident Bank upgrades digital channels amid pandemic
Bank Innovation
MARCH 30, 2020
For one community bank in New Jersey, its digital overhaul came at a crucial time, and Provident Bank has been pushing its digital capabilities to customers during the novel coronavirus pandemic since revamping its online banking earlier this month.
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First Bank in New Jersey gets regulatory approvals to close deal in Philly
American Banker
JULY 7, 2023
The acquisition of Malvern Bancorp, expected to close this month, would hasten First Bank's efforts to further fortify its footprint stretching from Philadelphia to New York City.
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The New Jersey Community Bank Flying High in PPP Ranking
Banking Exchange
JUNE 10, 2020
Cross River Bank’s partnerships with more than 30 fintech companies has enabled it to loan more than PNC, US Bank and Trust Community Banking PPP Covid19 Feature Financial Trends Duties Feature3 The Economy.
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New Jersey bank swims against the tide in growing its wealth business
American Banker
MARCH 13, 2024
Peapack-Gladstone's wealth unit is pursuing an ambitious de novo expansion in New York and perhaps elsewhere because M&A has become expensive as private equity money has inflated seller expectations.
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New Jersey banks extend deadline to close their $1.3 billion merger
American Banker
DECEMBER 21, 2023
Provident Financial in Iselin initially anticipated completing its deal for Oak Ridge-based Lakeland Bancorp in the second quarter. Now as it waits for regulatory approval, Provident says the process will stretch into spring 2024.
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NJ Online Gaming Revenue Set To Grow 66 Pct This Year
PYMNTS
DECEMBER 27, 2019
With blackjack and roulette on mobile phones, the growing market for online sports wagering in New Jersey has introduced gamblers to virtual casino games. Mobile betting, however, is only allowed in five: New Jersey, West Virginia, Iowa, Pennsylvania and Nevada per earlier reports.
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Valley's $400M capital raise accelerates pivot away from CRE
American Banker
NOVEMBER 8, 2024
The added capital will help the New Jersey-based regional bank reduce its commercial real estate footprint faster and give it wiggle room to grow elsewhere, analysts said.
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Senators Push For Bill That Would Force Retailers To Accept Cash
PYMNTS
JULY 2, 2020
Robert Menendez (D-New Jersey) and Kevin Cramer (R-North Dakota) have introduced a bipartisan measure that would forbid merchants from declining cash payments from customers as businesses promote contactless digital payments amid the COVID-19 health crisis, CNBC reported. D-New Jersey) last year. If two U.S.
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Mastercard, Cross River Partner for New Cash ‘Pick-Up’ Service at Bank ATMs
Bank Innovation
DECEMBER 7, 2017
EXCLUSIVE — Payments technology company Mastercard has partnered with New Jersey-based bank, Cross River, to debut its “Mastercard Cash Pick-Up” service, the bank announced today. Cross River is the first bank to […].
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