New Jersey Outlaws Cashless Businesses

PYMNTS

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. Philadelphia recently became the first major city to pass a ban on cashless shops; New York, San Francisco, Chicago and Washington are reportedly considering passing similar legislation.

New Jersey Shore To Open Memorial Day Weekend

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Residents itching to visit the New Jersey shore over the Memorial Day weekend can break out bathing suits and head to the beach. With 10,747 coronavirus deaths as of May 21, New Jersey is second only to New York where there have been 28,540 fatalities, followed by Massachusetts with 6,006, according to the Centers for Disease Control and Prevention (CDC). COVID-19 has infected nearly 151,000 people across New Jersey.

New Jersey Getting Closer To Legalizing Recreational Marijuana

PYMNTS

New Jersey Governor Philip D. According to a report in The New York Times , if the agreement wins enough support in the state legislature, New Jersey could be next to enable legal use of pot. The news marks a big step forward in the governor’s vow to introduce recreational marijuana into New Jersey. New Jersey will need to stay ahead of the curve if it wants to maximize the expected economic benefits.”.

New Jersey, Pa. credit union foundations to merge

American Banker

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. Non-profits New Jersey Philanthropy Pennsylvania

New Jersey Shows The Good And Bad Of Gambling Payments Progress

PYMNTS

Among recent developments is the addition of PayPal to the sportsbook operated by DraftKings in New Jersey. Payment processing has been among the chief dampeners of performance in New Jersey’s regulated online gambling market,” observed Legal Sports Report. At launch, New Jersey’s legal online casino sites struggled with credit card decline rates exceeding 75 percent,” the report said. It’s a good time to be a sports gambler. Football. Hockey.

New Jersey’s $5B American Dream Mall To Reopen In October

PYMNTS

The wait is over for shoppers who have missed the $5 billion American Dream Mall in East Rutherford, New Jersey. Last week, New Jersey Gov. On Thursday (Sept.

New Jersey Attorney General sues merchant cash advance providers

CFPB Monitor

The New Jersey Attorney General recently filed a lawsuit in New Jersey state court against Yellowstone Capital LLC, its parent Fundry.US

New Jersey Names Student Loan Ombudsman

CFPB Monitor

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.

Kearny expanding in northern New Jersey with MSB purchase

American Banker

The company will pay $94 million for a bank with operations in New Jersey's Somerset and Morris counties. Community banking M&A Growth strategies New Jersey

New Jersey bank hit with consent order tied to BSA compliance

American Banker

FDIC Compliance AML Community banking New JerseyUnity Bancorp must improve its policies and procedures, and increase staff training, for following Bank Secrecy Act and anti-money laundering laws.

Small New Jersey bank eyes big expansion in wealth management

American Banker

Flush with capital from issuing subordinated debt, Peapack-Gladstone is exploring acquisitions in Florida and New York in an effort to generate more fee revenue.

New Jersey files lawsuit against two buy-here pay-here used car dealers

CFPB Monitor

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. Auto Finance State CFS Monitor auto dealers new jersey attorney general new jersey consumer fraud act

New Jersey Homeowners Insurance: Averages Rates for Coverage

MyBankTracker

Homeowners insurance in New Jersey can provide the protection you need. How Much Is Homeowners Insurance in New Jersey? New Jersey residents can expect to pay about $1,744 for home insurance per year. Do I Need Hurricane Insurance in New Jersey?

CFPB settles with New Jersey debt buyer for alleged FDCPA and CFPA violations based on unlicensed collection activity

CFPB Monitor

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.

The New Jersey Community Bank Flying High in PPP Ranking

Banking Exchange

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. 1Community Banking

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. State CFS Monitor State Licensing Student Loans new jersey servicer student loan

New Jersey Attorney General Leads Actions Against the U.S. Department of Education for Restricting Information Sharing with State Law Enforcement Agencies

CFPB Monitor

Last week, New Jersey Attorney General Gurbir Grewal took the lead in pursing two actions against the U.S. On September 16, 2019, New Jersey, along with 16 other attorneys general, including New York, Colorado, Massachusetts, and Washington, sent a letter to the Department opposing a new policy limiting cooperation with state law enforcement. This is the third letter sent by the New Jersey attorney general to the Department related to similar changes.

Boxed And Costco Have Their Roots In A 1970s New Jersey A&P Store

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A&P named its concept Warehouse Economy Outlet — or “Where Economy Originates” — and opened its first location in Pennsauken, New Jersey, in 1971. In another commercial , a spokesperson proclaimed, “It’s a brand-new concept: You shop at a modern supermarket with wild warehouse prices,” as the slogan “wild warehouse prices” flashed across the screen. If Amazon does end up acquiring Boxed, perhaps the new Costco card will be an Amazon Prime membership.

NJ Legislators Propose Tighter Data Privacy Regulations

PYMNTS

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. New Jersey joins Washington, Illinois and other states and regions in introducing data privacy laws.

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First Atlantic names new CEO as longtime chief retires

American Banker

Ann Goldinak will take the helm of the New Jersey-based credit union when John Culp retires in December. C-suite Professional development Career moves Career advancement Workforce management New Jersey Succession planning

Visions FCU donates to help launch racial justice institute

American Banker

The credit union announced a $1 million commitment to the New Jersey Education Association spread over 10 years, with the first installment helping expand the group’s Human and Civil Rights Division. Diversity and equality Credit unions Corporate philanthropy New Jersey Racial Bias

North Jersey Federal Credit Union names new CEO

American Banker

C-suite Credit unions Career moves New Jersey Succession planning Hiring RecruitingAnna Lo, a former NCUA examiner who previously led Pacific Transportation FCU, will take the helm next month, following the retirement of longtime CEO Lourdes Cortez.

NJ: Uber Owes $650M In Taxes After Misclassifying Drivers

PYMNTS

New Jersey’s Department of Labor and Workforce Development claims that Uber owes the state around $650 million in unemployment and disability insurance taxes because it has been wrongly classifying its drivers as independent contractors. We are challenging this preliminary, but incorrect, determination, because drivers are independent contractors in New Jersey and elsewhere,” said Alix Anfang, an Uber spokeswoman, according to Bloomberg Law.

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NJ’s Internet Gambling Revenues Soar To $80M In April

PYMNTS

New Jersey’s big bet on online gambling has paid off, with revenues skyrocketing to a record $80 million in April. New Jersey’s Division of Gaming Enforcement said the state’s licensed online gambling operators generated a combined income of $80 million in April. With total gaming revenues way down, what can gambling venues and the state of New Jersey, which collects taxes from them, do to boost business?

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Pro-cash laws gathering momentum in N.J., Philadelphia

Payments Source

Retailers Compliance Digital payments Cash New Jersey PennsylvaniaThe pushback on stores that don’t accept cash seems to be gaining momentum, with Philadelphia the latest municipality to consider a law that would ban cash-free shops.

New York To Sunbelt State Tourists: Stay Home

PYMNTS

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. New Jersey opened its beaches on Memorial Day weekend, while New York City began reopening earlier this month, letting nonessential manufacturing and construction workers return to their jobs.

NJ Transit to add contactless, open-loop fare options

Payments Source

New Jersey’s commuter rail and bus system is joining the movement to add contactless payment options for commuters, which observers say could spark broader adoption of mobile payments across the U.S. Mobile payments Contactless payments New Jersey

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NJ Launches First Mobile App For Lottery Tickets

PYMNTS

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. The company is available as of now in New Jersey, Texas, New Hampshire, and Minnesota.

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College Students Seek Lower Fall Tuition As Schools Plan To Stick With Digital Classes

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Pupils at New York City’s Pratt Institute have done the same. For example, The College of New Jersey this week announced that while it’s “keeping tuition flat,” it will cut overall student costs by 3.5 Coronavirus college COVID-19 discounts News online classes Pratt Institute refunds students The College of New Jersey tuition university University of California San Diego University of North Carolina

Bitcoin Daily: NJ Assembles Blockchain Initiative Task Force; IBM Eyes Blockchain Browser

PYMNTS

New Jersey ’s governor has signed a bill to implement a Blockchain Initiative Task Force. In other news, IBM recently filed a new patent application for a blockchain-based web browser. “In Bitcoin bill bitcoin Blockchain Blockstream FATF IBM Legislation mining new jersey News patent task force web browser What's Hot

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New Jersey Community Exits Consent Orders, Swaps Out Directors

American Banker

New Jersey Community Bank in Freehold has exited a pair of regulatory orders. The $102 million-asset bank also said in a press release Tuesday that two siblings have resigned from its board. breaking_news people corporate-governance fdic community-banking

Why one lawmaker seeks a federal ban on cashless businesses

Payments Source

New JerseyDonald Payne, D-N.J., recently introduced the Payment Choice Act in the U.S. House of Representatives to prohibit retail businesses from refusing cash for payments. Compliance Cash Retailers U.S.

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Bancorp of New Jersey Hires Former State Regulator as Chief

American Banker

Bancorp of New Jersey in Fort Lee has hired a former state regulator as its new chief executive. womenin-banking people succession-planning nj recruitment community-banking

Bancorp of New Jersey's Chief Executive Resigns

American Banker

Michael Lesler resigned as CEO and president of the $803 million-asset company, it said Thursday. breaking_news people recruitment nj community-banking

How the cashless crackdown will change Amazon Go

Payments Source

Cash Compliance Retailers Mobile payments Amazon New JerseyLegislation banning shops from refusing to accept cash has moved swiftly this year. But this trend is running head-on against retail models like Amazon Go, which are built from the ground up to operate without cash.