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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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How Smart Algorithms Deliver Faster, Secure Gig Payouts

PYMNTS

New Jersey became one of the more recent states, for example, with its regulation designed to make freelancers and independent contractors legally distinct from self-owned businesses and other such organizations. This is only one of several shifts to freelance work in the state under the bill. Lawmakers in other U.S.

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

PYMNTS

Because trust companies can’t custody securities in the U.S., 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. 20, which would introduce new standards and rules for how crypto businesses operate.

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More Security In Wake Of Mall Brawls

PYMNTS

A string of major disturbances at malls nationwide on the day after Christmas has led police to increase patrols and malls to ramp up security guard presence — in case consumers needed another reason to avoid physical stores. ‘Tis the season to riot. Some states, including Connecticut and Tennessee, reported multiple incidences.

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MGM Resorts Admits To 2019 Hack

PYMNTS

MGM Resorts International, a hotel and casino operator, admitted it had experienced a data breach following a report saying information on 10.6 The resort said it had upgraded its security to make sure a data breach like this one never happens again. million guests was compromised, according to a report by Reuters. .

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Report: ABG May Buy Bankrupt Ann Taylor Parent Firm Ascena

PYMNTS

Authentic Brands Group ( ABG ), the New York-based brand management company, could be the latest potential buyer of Ascena Retail Group , the recently bankrupt parent firm of Ann Taylor, Footwear News reported. The New Jersey-based company operates about 3,000 stores, mostly at malls. billion debt.

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Fairway Said To Seek Bankruptcy That Keeps Some Stores Open

PYMNTS

headquartered in New Jersey, owns ShopRite. A Village Super Market company representative did not respond to requests for comment nor did a spokesperson from Fairway comment other than an earlier official statement denying the company was intending to go out of business, according to the news outlet. Village Super Market Inc.,