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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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DOJ announces settlement of redlining lawsuit

CFPB Monitor

The Justice Department announced that it has entered into an agreement with Lakeland Bank to settle the DOJ’s claims that Lakeland engaged in unlawful redlining in the Newark, New Jersey metropolitan area. According to the DOJ , the settlement represents the third-largest redlining settlement in the DOJ’s history.

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

PYMNTS

A “future bank” focused solely on providing regulated services for digital assets is preparing to start, according to Coindesk on Monday (Feb. Because trust companies can’t custody securities in the U.S., 20, which would introduce new standards and rules for how crypto businesses operate. The company was formed Jan.

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Caesars Puts Stake In Online Betting Co DraftKings

PYMNTS

In New Jersey and Mississippi, DraftKings Sportsbook mobile and retail allows players to bet for major U.S. and international sports, pursuant to state rules and regulations. The deal is subject to passage of applicable laws, and both parties need to secure applicable gaming licenses. and Australia.

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Senate Grills Facebook’s Marcus Over Libra

PYMNTS

It’s a good idea for us to explore this because quite honestly cryptocurrency now is still kind of the wild, wild west that is not well regulated,” he said. to lead it its construction and regulation, lest the technology form factor be led by others from places “out of reach of our national security apparatus.”.

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For International Property Buyers, U.S. Presents Stable Investment Opportunities

PYMNTS

Foreign property buyers appear to have gotten that message, if research from the National Association of Realtors (NAR) is any indication. The nation, notably the areas of Toronto and Vancouver, is seeing a high influx of buyers purchasing properties due to the region’s low interest rates. Global Real Estate Bargain Shopping.

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Will "Plain Vanilla" Kill Community Banking?

Jeff For Banks

Most recently Valley National Bancorp''s highly respected CEO, Gerald Lipkin stated: "The positive [fourth quarter] results are attributable to management''s common sense and highly focused approach to traditional banking — gathering deposits and making relatively low-risk loans." ? Valley National had an ROA in the fourth quarter of 1.08%.