...Division of Banking
The Division of Banking is responsible for
chartering, licensing and supervising
commercial and savings banks, savings and
loan associations, limited trust companies
and credit unions. The division is also
responsible for licensing, examining and
supervising a number of other financial
service entities, including, but not limited
to: licensed lenders (mortgage bankers and
brokers, mortgage solicitors, consumer
lenders, secondary mortgage lenders and
sales finance companies); money transmitters
and foreign money transmitters; insurance
premium finance companies, pawnbrokers and
check cashers. The division consists of two
offices, the Office of Depositories and the
Office of Consumer Finance. The Office of
Depositories conducts examinations of
State-chartered banking and savings
and loan institutions, and takes enforcement
action if it discovers any violations of
banking statutes or regulations. It also
processes and reviews applications by
depository institutions for new charters,
branches, relocations, plans of acquisition,
mergers, bulk sales, stock conversions and
auxiliary offices. The Office of Consumer
Finance examines, and when appropriate,
takes enforcement actions against, the other
entities regulated by the division and also
investigates complaints filed by
consumers....
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njleg.state.nj.us |
