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New Jersey enacts licensing and other requirements for student loan servicers

CFPB Monitor

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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Bitcoin Daily: Avanti Preparing To Apply For Banking Charter; NJ Lawmaker Introduces Regulatory Rules On Crypto

PYMNTS

Some representatives from the world’s central banks discussed the matter last week in Kyiv, Ukraine, at a conference arranged by the National Bank of Ukraine. Meanwhile, a New Jersey lawmaker has introduced a bill that would require cryptocurrency firms to obtain a license before being able to operate, according to Coin Telegraph.

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JPMorgan: GDP Could Drop 40 Percent, Unemployment Could Reach 20 Percent

PYMNTS

JPMorgan Chase has dimmed its view of the future yet again, now saying the nation’s gross domestic product (GDP) could sink by as much as 40 percent in the second quarter due to the coronavirus pandemic, according to CNBC. That’s an increase from the already-dire 25 percent drop JPMorgan previously predicted.

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OpenTable Data Shows Consumers Are Starting To Eat Out Again

PYMNTS

The national decline in restaurant bookings is starting to ease up, according to new data from OpenTable as reported by CNBC. The states hit harder by the virus, like New York and New Jersey in the continental northeast, have been seeing worse declines in restaurants.

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Citi To Bolster Business Lending In Europe With New Staff, Offices

PYMNTS

billion, Reuters reported, with new offices and staffers in multiple Western European nations by the conclusion of this year. Citi overall has operations in 55 EMEA nations; however, its commercial banking unit has offices in just 15 with 21 further nations served from locations like London, Dubai and Dublin.

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NJ’s American Dream Mega-Mall Bucks Mall Vacancy Trend

PYMNTS

The highly anticipated American Dream Mall (ADM) in New Jersey will hold its last opening day celebration in March with almost 100 percent of its 3.3 North America’s first indoor snow sports center is at ADM, as well as a National Hockey League?sized 25 with Nickelodeon Universe and an ice skating rink; Nov. hole miniature golf.

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Popular Bank Named Among First Investors of NWK FAM Fund

PopularBank

The new investment vehicle aims to economically empower Black and Latinx business owners throughout the City of Newark. NWK FAM Fund Seeks to Narrow the Wealth Gap in New Jersey. According to a recent study , the state experiences one of the worst racial wealth gaps in the nation. Michellene Davis. John Harmon.