INDUSTRY INSIGHTS YOUR PEERS ARE READING
Deposits Community banks M&A Growth strategies New Jersey"You can't meet customers at the headquarters," CEO Kevin Cummings tells his senior executives. MORE
Community banking M&A Strategic buyers New JerseyFirst Bank is removing a competitor by agreeing to acquire Grand Bank for $19 million. MORE
Receiving Wide Coverage. Another hit: Wells Fargo has agreed to pay $50 million to settle a class-action lawsuit in which it was accused of overcharging homeowners for appraisals ordered after the borrowers defaulted on their mortgages. The plaintiffs allege they were charged $95 to $120 for a service that cost the bank $50 or less. Under the proposed settlement, Wells will mail checks, averaging $120 each, to more than 250,000 customers whose home loans were… morning-scan national-regiona MORE
A new line of inquiry into President Trump's business dealings is thrusting small New Jersey lender Investors Bancorp into a spotlight with Deutsche Bank, which for years has been better known as the real estate mogul's creditor of choice. Commercial lending Donald Trump Deutsche Bank MORE
based City National Bank of New Jersey is selling assets and liabilities of its Roosevelt, N.Y., Newark, N.J.-based branch to $5.7 billion Bethpage Federal Credit Union. According to the FDIC, the branch in question had $15.3 million in deposits as of June 30, 2013. City National Bank on September 4 filed an application seeking approval for the proposed sale, which is expected to close by December. Read the story in the American Banker. Bank-Credit Union Transaction Branch Sales MORE
Community banking Regional banks Deposits Munis New JerseyAn ex-banker running for governor has proposed the idea. It's a political perennial, but industry officials are nonetheless raising concerns. MORE
Peapack-Gladstone has agreed to buy Lassus Wherley & Associates, which has offices in New Jersey and Florida. Community banking M&A Wealth management New Jersey MORE
Community banking New JerseyThe company sued the former director over the debt, which disqualified him from board service. MORE
After a bit of browsing, she stumbled upon a New Jersey Credit Union League glass that some crafty person had turned into a scented candle. artifact glass little man new jersey MORE
15 The New Jersey company agreed to buy BoeFly, which connects franchisors, small businesses, lenders and loan brokers. Community banking M&A Marketplace lending Digital banking Small business lending New Jersey New York MORE
Community banking M&A Growth strategies New JerseyColumbia plans to incorporate certain aspects of Stewardship Financial's charitable giving into its own foundation. MORE
New Jersey was the ringleader of the effort, though it did enlist support from 17 other states and three additional state governors. “I am thrilled to see the Supreme Court finally side with New Jersey and strike down the arbitrary ban on sports betting imposed by Congress decades ago,” New Jersey Governor Phil Murphy said Monday. Regulation gambling law new jersey News regulation SCOTUS Sports betting sports gambling supreme court MORE
Community banking Branch network Capital Growth strategies New JerseyOrange County Bancorp has identified two neighboring counties for expansion. MORE
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 MORE
Community banking M&A Wealth management New Jersey New YorkProvident's investment adviser unit will have nearly $3 billion in assets under management after it buys Tirschwell & Loewy. MORE
George Scharpf had been the New Jersey bank's leader since 1981. C-suite Career planning Succession planning Community banking New Jersey MORE
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 MORE
Receiving Wide Coverage. Another hit: Wells Fargo has agreed to pay $50 million to settle a class-action lawsuit in which it was accused of overcharging homeowners for appraisals ordered after the borrowers defaulted on their mortgages. The plaintiffs allege they were charged $95 to $120 for a service that cost the bank $50 or less. Under the proposed settlement, Wells will mail checks, averaging $120 each, to more than 250,000 customers whose home loans were. national-regional MORE
Community banking Strategic buyers Branch network Branch banking Branch deals New JerseyBank of Princeton will also buy $190 million in deposits as part of the deal. MORE
Community banking Deposits New Jersey MichiganBoth proposals aim to establish institutions that would be modeled after Bank of North Dakota, the nation's only public bank. MORE
The New Jersey bank said it will save millions of dollars by eliminating the jobs as well as selling and leasing back some of its real estate. Community banking C-suite Commercial banking New Jersey MORE
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. MORE
OceanFirst Financial's acquisition of Capital Bank of New Jersey would strengthen its presence in the southern part of the state and Philadelphia. Integrations Community banking M&A New Jersey MORE
Personally identifiable information Data security Data privacy Data sharing Marco Rubio Facebook Equifax California New JerseyCalifornia and others have passed consumer privacy laws, and lawmakers in Congress are beginning to address the issue. MORE
The New Jersey company said the issue, tied to insufficient validation procedures, did not lead to misstated financial results. Community banking Infrastructure New Jersey MORE
United Roosevelt Savings Bank in Carteret, N.J., has agreed to buy Wawel Financial Services in Garfield, N.J. breaking_news dealmaking-strategy m-a nj community-banking MORE
Efforts to create city- or state-owned banks in Los Angeles, Seattle and New Jersey have suffered setbacks of late, but public banking advocates are taking the long view. Community banking Commercial lending Law and regulation Marijuana banking New Jersey MORE
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. MORE
Small business lending Growth strategies Fintech Community banking SBA Indiana New JerseyFirst Internet is poised to acquire an SBA lending team to help it meet an ambitious loan target for the year — a target the CEO plans on doubling in coming years. MORE
Taxi medallion loans continue to stress the performance of two New Jersey credit unions in the first quarter of 2017. First Jersey Credit Union The increase in provisions for loan and lease losses caused First Jersey Credit Union (Wayne, NJ) to go from a profit of 82,404 in the first quarter of 2016 to a loss of $847, 040 at the end of the first quarter of 2017. First Jersey Credit Union reported a year-over-year reduction in its net worth due to large losses. MORE
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. MORE
Its new leader has taken a markedly different approach. Community banking C-suite Workplace culture Fintech M&A New JerseyValley Bank spent millions on bank acquisitions under its previous CEO. MORE
Singapore, Tokyo, New York, London and Shanghai are leading cities in spending this year. Among the major smart city deployments, both New York and London are participating in a major rollout of connected sidewalk kiosks, which will replace existing phone booths and offer residents free Wi-Fi access, device charging and tablets with maps and city information. New Jersey Transit , the third largest transit system in the U.S., MORE
Digital payments Contactless payments Credit cards Mobile payments Pennsylvania New Jersey CaliforniaState and local officials have pushed back against retailers that don’t take cash, and now some are pressuring electric vehicle firms to expand payment options at charging stations. MORE
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. MORE
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 MORE
The New Jersey company terminated an acquisition after being hit with the order in 2016. Community banking M&A AML FDIC New Jersey MORE
Obituaries Financial regulations Capital markets Banking Wisconsin New JerseyUrfer co-founded a business with the banking automation pioneer John Diebold, worked for Chase Manhattan and other major banks, and played an important role in the Nixon administration, phasing out exchange controls. MORE
Fred Daibes and an associate allegedly conspired to fraudulently obtain loans from Mariner's Bank, a New Jersey institution he helped found. Fraud losses Community banking Corporate governance New Jersey MORE
Digital payments Contactless payments Credit cards Mobile payments Pennsylvania New Jersey CaliforniaState and local officials have pushed back against retailers that don’t take cash, and now some are pressuring electric vehicle firms to expand payment options at charging stations. MORE
The New Jersey bank is entering a business dominated by larger players. Wealth management Investment banking Growth strategies New JerseyIn doing so, it could create a blueprint for other small banks. MORE
The financial fortunes of two New Jersey credit unions have been adversely impacted by taxi medallion loans. Aspire Federal Credit Union (Clark, NJ) Aspire Federal Credit Union posted a loss of $6.1 million for 2017, after losing $1.6 million in 2016. The $158 million credit union reported outstanding commercial loans not secured by real estate of $12.6 million. Presumably most of these loans were taxi medallion loans. MORE
Michael Lesler resigned as CEO and president of the $803 million-asset company, it said Thursday. breaking_news people recruitment nj community-banking MORE
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. MORE
New Jersey Related Topics 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.
PYMNTS
FEBRUARY 20, 2019
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.
PYMNTS
OCTOBER 5, 2018
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.
BankThink
OCTOBER 29, 2018
OceanFirst Financial's acquisition of Capital Bank of New Jersey would strengthen its presence in the southern part of the state and Philadelphia. Integrations Community banking M&A New Jersey
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. Auto Finance State CFS Monitor auto dealers new jersey attorney general new jersey consumer fraud act
BankThink
AUGUST 25, 2017
Community banking Regional banks Deposits Munis New JerseyAn ex-banker running for governor has proposed the idea. It's a political perennial, but industry officials are nonetheless raising concerns.
BankThink
JANUARY 17, 2017
Community banking New JerseyThe company sued the former director over the debt, which disqualified him from board service.
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. 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.
BankThink
JUNE 5, 2019
The New Jersey bank is entering a business dominated by larger players. Wealth management Investment banking Growth strategies New JerseyIn doing so, it could create a blueprint for other small banks.
BankThink
JUNE 19, 2019
Small business lending Growth strategies Fintech Community banking SBA Indiana New JerseyFirst Internet is poised to acquire an SBA lending team to help it meet an ambitious loan target for the year — a target the CEO plans on doubling in coming years.
Keith Leggett's Credit Union Watch
MAY 3, 2017
Taxi medallion loans continue to stress the performance of two New Jersey credit unions in the first quarter of 2017. First Jersey Credit Union The increase in provisions for loan and lease losses caused First Jersey Credit Union (Wayne, NJ) to go from a profit of 82,404 in the first quarter of 2016 to a loss of $847, 040 at the end of the first quarter of 2017. First Jersey Credit Union reported a year-over-year reduction in its net worth due to large losses.
American Banker
AUGUST 9, 2016
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
American Banker
APRIL 6, 2016
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
BankThink
JUNE 14, 2019
Digital payments Contactless payments Credit cards Mobile payments Pennsylvania New Jersey CaliforniaState and local officials have pushed back against retailers that don’t take cash, and now some are pressuring electric vehicle firms to expand payment options at charging stations.
American Banker
MARCH 3, 2016
Michael Lesler resigned as CEO and president of the $803 million-asset company, it said Thursday. breaking_news people recruitment nj community-banking
American Banker
SEPTEMBER 1, 2016
United Roosevelt Savings Bank in Carteret, N.J., has agreed to buy Wawel Financial Services in Garfield, N.J. breaking_news dealmaking-strategy m-a nj community-banking
BankThink
JUNE 7, 2019
Community banking M&A Growth strategies New JerseyColumbia plans to incorporate certain aspects of Stewardship Financial's charitable giving into its own foundation.
Keith Leggett's Credit Union Watch
FEBRUARY 13, 2018
The financial fortunes of two New Jersey credit unions have been adversely impacted by taxi medallion loans. Aspire Federal Credit Union (Clark, NJ) Aspire Federal Credit Union posted a loss of $6.1 million for 2017, after losing $1.6 million in 2016. The $158 million credit union reported outstanding commercial loans not secured by real estate of $12.6 million. Presumably most of these loans were taxi medallion loans.
BankThink
MARCH 4, 2019
The New Jersey company said the issue, tied to insufficient validation procedures, did not lead to misstated financial results. Community banking Infrastructure New Jersey
BankThink
APRIL 12, 2019
The New Jersey company agreed to buy BoeFly, which connects franchisors, small businesses, lenders and loan brokers. Community banking M&A Marketplace lending Digital banking Small business lending New Jersey New York
BankThink
OCTOBER 31, 2018
Fred Daibes and an associate allegedly conspired to fraudulently obtain loans from Mariner's Bank, a New Jersey institution he helped found. Fraud losses Community banking Corporate governance New Jersey
Payments Source
JUNE 14, 2019
Digital payments Contactless payments Credit cards Mobile payments Pennsylvania New Jersey CaliforniaState and local officials have pushed back against retailers that don’t take cash, and now some are pressuring electric vehicle firms to expand payment options at charging stations.
Payments Source
MAY 15, 2019
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.
American Banker
NOVEMBER 2, 2016
Receiving Wide Coverage. Another hit: Wells Fargo has agreed to pay $50 million to settle a class-action lawsuit in which it was accused of overcharging homeowners for appraisals ordered after the borrowers defaulted on their mortgages. The plaintiffs allege they were charged $95 to $120 for a service that cost the bank $50 or less. Under the proposed settlement, Wells will mail checks, averaging $120 each, to more than 250,000 customers whose home loans were… morning-scan national-regiona
BankThink
MARCH 3, 2019
Personally identifiable information Data security Data privacy Data sharing Marco Rubio Facebook Equifax California New JerseyCalifornia and others have passed consumer privacy laws, and lawmakers in Congress are beginning to address the issue.
BankThink
DECEMBER 7, 2018
The New Jersey company terminated an acquisition after being hit with the order in 2016. Community banking M&A AML FDIC New Jersey
BankThink
FEBRUARY 13, 2019
The New Jersey bank said it will save millions of dollars by eliminating the jobs as well as selling and leasing back some of its real estate. Community banking C-suite Commercial banking New Jersey
BankThink
NOVEMBER 2, 2016
Receiving Wide Coverage. Another hit: Wells Fargo has agreed to pay $50 million to settle a class-action lawsuit in which it was accused of overcharging homeowners for appraisals ordered after the borrowers defaulted on their mortgages. The plaintiffs allege they were charged $95 to $120 for a service that cost the bank $50 or less. Under the proposed settlement, Wells will mail checks, averaging $120 each, to more than 250,000 customers whose home loans were. national-regional
BankThink
JANUARY 8, 2019
George Scharpf had been the New Jersey bank's leader since 1981. C-suite Career planning Succession planning Community banking New Jersey
PYMNTS
AUGUST 7, 2018
Singapore, Tokyo, New York, London and Shanghai are leading cities in spending this year. Among the major smart city deployments, both New York and London are participating in a major rollout of connected sidewalk kiosks, which will replace existing phone booths and offer residents free Wi-Fi access, device charging and tablets with maps and city information. New Jersey Transit , the third largest transit system in the U.S.,
Keith Leggett's Credit Union Watch
SEPTEMBER 12, 2014
based City National Bank of New Jersey is selling assets and liabilities of its Roosevelt, N.Y., Newark, N.J.-based branch to $5.7 billion Bethpage Federal Credit Union. According to the FDIC, the branch in question had $15.3 million in deposits as of June 30, 2013. City National Bank on September 4 filed an application seeking approval for the proposed sale, which is expected to close by December. Read the story in the American Banker. Bank-Credit Union Transaction Branch Sales
BankThink
MARCH 20, 2019
Community banking M&A Strategic buyers New JerseyFirst Bank is removing a competitor by agreeing to acquire Grand Bank for $19 million.
PYMNTS
MAY 14, 2018
New Jersey was the ringleader of the effort, though it did enlist support from 17 other states and three additional state governors. “I am thrilled to see the Supreme Court finally side with New Jersey and strike down the arbitrary ban on sports betting imposed by Congress decades ago,” New Jersey Governor Phil Murphy said Monday. Regulation gambling law new jersey News regulation SCOTUS Sports betting sports gambling supreme court
BankThink
NOVEMBER 19, 2018
Efforts to create city- or state-owned banks in Los Angeles, Seattle and New Jersey have suffered setbacks of late, but public banking advocates are taking the long view. Community banking Commercial lending Law and regulation Marijuana banking New Jersey
BankThink
NOVEMBER 1, 2018
Community banking Branch network Capital Growth strategies New JerseyOrange County Bancorp has identified two neighboring counties for expansion.
BankThink
APRIL 12, 2019
Obituaries Financial regulations Capital markets Banking Wisconsin New JerseyUrfer co-founded a business with the banking automation pioneer John Diebold, worked for Chase Manhattan and other major banks, and played an important role in the Nixon administration, phasing out exchange controls.
BankThink
MARCH 7, 2019
Its new leader has taken a markedly different approach. Community banking C-suite Workplace culture Fintech M&A New JerseyValley Bank spent millions on bank acquisitions under its previous CEO.
BankThink
FEBRUARY 15, 2019
Deposits Community banks M&A Growth strategies New Jersey"You can't meet customers at the headquarters," CEO Kevin Cummings tells his senior executives.
BankThink
JANUARY 24, 2018
Community banking Deposits New Jersey MichiganBoth proposals aim to establish institutions that would be modeled after Bank of North Dakota, the nation's only public bank.
BankThink
FEBRUARY 4, 2019
Community banking Strategic buyers Branch network Branch banking Branch deals New JerseyBank of Princeton will also buy $190 million in deposits as part of the deal.
BankThink
JANUARY 22, 2019
Community banking M&A Wealth management New Jersey New YorkProvident's investment adviser unit will have nearly $3 billion in assets under management after it buys Tirschwell & Loewy.
BankThink
JUNE 29, 2018
Peapack-Gladstone has agreed to buy Lassus Wherley & Associates, which has offices in New Jersey and Florida. Community banking M&A Wealth management New Jersey
Credit Union History
OCTOBER 26, 2012
After a bit of browsing, she stumbled upon a New Jersey Credit Union League glass that some crafty person had turned into a scented candle. artifact glass little man new jersey
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