reglab/housing_qa huggingface dataset:
NJ Rev Stat § 17:16Y-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16Y-2 - Use of consumer's loan information.

17:16Y-2 Use of consumer's loan information.  2. No person shall use or reference a consumer's loan number, loan amount or other specific loan information, whether publicly available or not, in any solicitation for services or products without the consent of the depository institution, affiliate or subsidiary. L.2007, c.51, s.2.
NJ Rev Stat § 17:16Y-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16Y-3 - Use of depository institution trade name, trademark to deceive consumer.

17:16Y-3 Use of depository institution trade name, trademark to deceive consumer.  3. No person shall use the trade name or trademark of a depository institution, its affiliate or subsidiary or a trade name or trademark similar to that of a depository institution, its affiliate or subsidiary in any advertisement or solicitation for services or products when that use could cause any reasonable person to be confused, mistaken or deceived, initially or otherwise, as to the sponsorship, affiliation, connection or association of that person using the trade name or trademark with the depository institution, affiliate or subsidiary or as to the approval of that person using the trade name or trademark by the depository institution, affiliate or subsidiary. L.2007, c.51, s.3.
NJ Rev Stat § 17:16Y-4 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16Y-4 - Violations, penalties.

17:16Y-4 Violations, penalties.  4. a. A person who violates the provisions of this act shall be liable to a penalty of $1,000 for each violation. The penalty shall be collected by the Commissioner of Banking and Insurance in accordance with the "Penalty Enforcement Law of 1999," P.L.1999, c.274 (C.2A:58-10 et seq.). The penalty provided by this section shall be in addition to any other penalty provided under applicable law. b. In addition to the penalties of subsection a. of this section, the Commissioner of Banking and Insurance shall order any person in violation of this act to cease their unlawful practices. L.2007, c.51, s.4.
NJ Rev Stat § 17:16Y-5 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16Y-5 - Regulations.

17:16Y-5 Regulations.  5. The Commissioner of Banking and Insurance shall promulgate regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) as necessary to effectuate the purposes of this act. L.2007, c.51, s.5.
NJ Rev Stat § 17:16Z-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16Z-1 - Short title.

17:16Z-1 Short title.  1. This act shall be known and may be cited as the "Banking Development District Act." L.2011, c.24, s.1.
NJ Rev Stat § 17:16Z-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16Z-2 - Definitions relative to banking development districts.

17:16Z-2 Definitions relative to banking development districts.  2. As used in this act: "Bank" means a State or federally chartered bank, savings bank, savings and loan association, or credit union doing business in the State. "Banking services" means deposit taking, check cashing, sale of money orders, and origination of residential or commercial mortgages, consumer loans, and commercial loans. "Branch" means a full service branch office of a bank, providing banking services with tellers, customer service representatives, and loan officers available at least 40 hours per week. "Commissioner" means the Commissioner of Banking and Insurance. "Department" means the Department of Banking and Insurance. "District" means a banking development district approved under this act. "Program" means the Banking Development District Program established pursuant to this act. L.2011, c.24, s.2.
NJ Rev Stat § 17:16Z-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16Z-3 - Banking Development District Program.

17:16Z-3 Banking Development District Program.  3. There is established in the department, the Banking Development District Program. The commissioner shall administer and monitor the program to encourage the establishment of bank branches in geographic locations in this State where there is a demonstrated need for banking services by the establishment of banking development districts. L.2011, c.24, s.3.
NJ Rev Stat § 17:16Z-4 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16Z-4 - Rules, regulations setting forth criteria for establishment of banking development districts.

17:16Z-4 Rules, regulations setting forth criteria for establishment of banking development districts.  4. The department shall promulgate rules and regulations which set forth the criteria for the establishment of banking development districts. The criteria shall include, but not be limited to, the following: a. The location, number, and proximity of sites where banking services are currently available within the district; b. The identification of consumer needs for banking services within the district; c. The economic viability and local credit needs of the community within the district; d. The existing commercial development within the district; e. The impact additional banking services would have on potential economic development in the district; and f. Such other criteria that the commissioner shall identify as appropriate. L.2011, c.24, s.4.
NJ Rev Stat § 17:16Z-5 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16Z-5 - Application for designation of banking development district.

17:16Z-5 Application for designation of banking development district.  5. a. A municipality, in conjunction with a bank, may submit an application to the commissioner for the designation of a banking development district within a specified geographic area. b. The commissioner shall issue a determination as to an application for designation as a district within 60 days of receipt of the application. If an application is approved, the commissioner shall transmit notification of the approval to the municipality requesting the district, the State Treasurer, and any bank which has or will have a branch located in the district. c. A bank may submit an application to open a branch in the requested banking development district, subject to all applicable federal and State laws regarding the establishment of branch offices, simultaneously with the submission of the application for the designation of a banking development district. L.2011, c.24, s.5.
NJ Rev Stat § 17:16Z-6 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16Z-6 - Selection of bank as depository for public moneys, funds.

17:16Z-6 Selection of bank as depository for public moneys, funds.  6. a. Notwithstanding the provisions of section 1 of P.L.1956, c.174 (C.52:18-16.1) or any other law to the contrary, the State Treasurer may select a bank in a district as a depository for public moneys or funds that are otherwise in the custody of the State Treasurer. b. Subject to an agreement between the State Treasurer and the bank, funds of the State deposited in the bank may earn a fixed rate of interest which is at or below the bank's posted rate for a mutually agreeable depository product, for a mutually agreeable term. L.2011, c.24, s.6.
NJ Rev Stat § 17:16Z-7 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16Z-7 - Selection of bank as depository of funds of municipality.

17:16Z-7 Selection of bank as depository of funds of municipality.  7. a. The governing body of a municipality in which a banking development district has been designated by the commissioner may, by resolution, select a bank in the district as a depository for funds of the municipality, provided the bank shall be subject to the requirements for a public depository established pursuant to P.L.1970, c.236 (C.17:9-41 et seq.). The resolution shall state the maximum amount which may be on deposit at any time with the bank and such other terms and conditions as are determined to be necessary by the governing body of the municipality. b. Subject to an agreement between the governing body of the municipality and the bank, funds of the municipality deposited in the bank may earn a fixed rate of interest which is at or below the bank's posted rate for a mutually agreeable depository product, for a mutually agreeable term. c. The selection of a bank, deposit amount, and the terms and conditions of a deposit may be changed at any time by the governing body of the municipality by further resolution. L.2011, c.24, s.7.
NJ Rev Stat § 17:16Z-8 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16Z-8 - Rules, regulations.

17:16Z-8 Rules, regulations.  8. The Department of Banking and Insurance shall adopt rules and regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to effectuate the purposes of this act. L.2011, c.24, s.8.
NJ Rev Stat § 17:16ZZ-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16ZZ-1 - Definitions relative to regulation of student loan servicers.

17:16ZZ-1 Definitions relative to regulation of student loan servicers.  1. As used in this act: "Commissioner" means the Commissioner of Banking and Insurance. "National Mortgage Licensing System and Registry" means the licensing system owned and operated by the State Regulatory Registry LLC, a wholly owned subsidiary of the Conference of State Bank Supervisors, which functions as a system of record for non-depository, financial services licensing or registration in participating state agencies, including the District of Columbia and United States Territories of Puerto Rico, the United States Virgin Islands, and Guam, where it is the official system for companies and individuals seeking to apply for, amend, renew and surrender license authorities.  "Ombudsman" means the Student Loan Ombudsman appointed pursuant to section 2 of this act. "Servicing" means:  a. receiving any scheduled periodic payments from a student loan borrower or notification of such payments, and applying payments to the borrower's account pursuant to the terms of the student education loan or the contract governing the servicing of the loan; b. during a period when no payment is required on the student education loan, maintaining account records for the loan and communicating with the student loan borrower regarding the loan, on behalf of the holder of the loan; or c. interacting with a student loan borrower to facilitate the loan servicing as described in this definition, including activities to help prevent loan default on obligations arising from a student education loan. "Student education loan" means a loan that is extended to a student loan borrower expressly to finance postsecondary education expenses or other school-related expenses and shall not include open-end credit or any loan secured by real property. "Student loan borrower" means any resident of this State who has received or agreed to pay a student education loan; or any person who shares responsibility with a resident for repaying a student education loan. "Student loan servicer" means any person, wherever located, responsible for the servicing of any student education loan to any student loan borrower. L.2019, c.200, s.1.
NJ Rev Stat § 17:16ZZ-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16ZZ-2 - Student Loan Ombudsman.

17:16ZZ-2 Student Loan Ombudsman.  2. a. The commissioner shall designate a Student Loan Ombudsman within the Department of Banking and Insurance to carry out the duties and activities set forth in section 3 of this act. Contingent on the availability of funding, the department may hire additional staff as necessary to implement this act. b. The ombudsman shall receive and review complaints from student loan borrowers. Any complaint received by the ombudsman in regard to a student loan servicer shall be referred to the commissioner. The ombudsman and the commissioner shall confer annually regarding student loan servicer complaints, the proper referral process for the complaints, and the ombudsman reporting requirement established pursuant to section 3 of this act. L.2019, c.200, s.2.
NJ Rev Stat § 17:16ZZ-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16ZZ-3 - Duties of the ombudsman; education course; reports.

17:16ZZ-3 Duties of the ombudsman; education course; reports.  3. a. The commissioner shall ensure that the ombudsman: (1) receive, review, and attempt to resolve any complaints from student loan borrowers, including, but not limited to, attempts to resolve those complaints in collaboration with institutions of higher education, student loan servicers, and any other participants in student education loan lending; (2) compile and analyze data on student loan borrower complaints as described in paragraph (1) of this subsection; (3) assist student loan borrowers to understand their rights and responsibilities under the terms of student education loans; (4) provide information to the public, agencies, legislators, and others regarding the problems and concerns of student loan borrowers, and make recommendations for resolving those problems and concerns; (5) analyze and monitor the development and implementation of federal, State, and local laws, regulations, and policies relating to student loan borrowers and recommend any changes the Student Loan Ombudsman deems necessary; (6) review the complete student education loan history for any student loan borrower who has provided written consent for review; (7) disseminate information concerning the availability of the Student Loan Ombudsman to assist student loan borrowers and potential student loan borrowers, including disseminating the information to institutions of higher education, student loan servicers, and any other participant in student education loan lending, with any student loan servicing concerns; and (8) take any other actions necessary to fulfill the duties of the Student Loan Ombudsman as set forth in this section. b. No later than October 1, 2020, the commissioner shall ensure that the Student Loan Ombudsman and the Higher Education Student Assistance Authority establish and maintain a student loan borrower education course that shall include educational presentations and materials regarding student education loans. The program shall include, but not be limited to, key loan terms, documentation requirements, monthly payment obligations, income-based repayment options, loan forgiveness, and disclosure requirements. c. No later than 12 months following the date of appointment of the ombudsman pursuant to section 2 of this act, and annually thereafter, the Student Loan Ombudsman shall submit a report to the Commissioner of Banking and Insurance and the Secretary of Higher Education. The ombudsman shall report on: (1) the implementation of this section; (2) the overall effectiveness of the Student Loan Ombudsman position; and (3) additional steps that need to be taken for the Department of Banking and Insurance to gain regulatory control over the licensing and enforcement of student loan servicers. L.2019, c.200, s.3.
NJ Rev Stat § 17:16ZZ-6 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16ZZ-6 - Student loan servicer to use name, location on license; surety bond.

17:16ZZ-6 Student loan servicer to use name, location on license; surety bond.  6. a. No person licensed to act within this State as a student loan servicer shall do so under any other name or at any other place of business than that named in the license. Any change of location of a place of business of a licensee shall require prior written notice to the commissioner. Not more than one place of business shall be maintained under the same license but the commissioner may issue more than one license to the same licensee upon compliance with the provisions of this act as to each new licensee. A license shall not be transferable or assignable. b. A student loan servicer shall keep on file with the commissioner a surety bond obtained from a surety company authorized to transact business in this State in an amount of not less than $30,000. The commissioner shall, by regulation, provide who shall be eligible to receive the protection afforded by the bond and may increase the required bond amount, if he determines it to be necessary. When an action is commenced on the bond, the commissioner may require the filing of a new bond and immediately on recovery of any action on the bond, the student loan servicer shall file a new bond. L.2019, c.200, s.6.
NJ Rev Stat § 17:16ZZ-7 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16ZZ-7 - Maintenance, availability of records.

17:16ZZ-7 Maintenance, availability of records.  7. a. Except as otherwise required pursuant to federal law, a federal student education loan agreement, or a contract between the federal government and a licensee, each student loan servicer licensee and persons exempt from licensure pursuant to paragraph (2) of subsection a. of section 4 of this act shall maintain adequate records of each student education loan transaction for not less than two years following the final payment on that student education loan or the assignment of that student education loan, whichever occurs first. b. If requested by the commissioner, each student loan servicer shall make records available or send records to the commissioner by registered or certified mail, return receipt requested, or by any express delivery carrier that provides a dated delivery receipt, not later than five business days after requested by the commissioner to do so. Upon request, the commissioner may grant a licensee additional time to make records available or send the records to the commissioner. L.2019, c.200, s.7.
NJ Rev Stat § 17:16ZZ-9 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16ZZ-9 - Prohibited actions.

17:16ZZ-9 Prohibited actions.  9. No student loan servicer shall: a. directly or indirectly employ any scheme, device or artifice to defraud or mislead student loan borrowers; b. engage in any unfair or deceptive practice toward any person or misrepresent or omit any material information in connection with the servicing of a student education loan, including, but not limited to, misrepresenting the amount, nature or terms of any fee or payment due or claimed to be due on a student education loan, the terms and conditions of the loan agreement or the borrower's obligations under the loan; c. obtain property by fraud or misrepresentation; d. misapply student education loan payments to the outstanding balance of a student education loan; e. provide inaccurate information to a credit bureau, thereby harming a student loan borrower's creditworthiness; f. fail to report both the favorable and unfavorable payment history of the student loan borrower to a nationally recognized consumer credit bureau at least annually if the student loan servicer regularly reports information to a credit bureau; g. refuse to communicate with an authorized representative of the student loan borrower who provides a written authorization signed by the student loan borrower, provided the student loan servicer may adopt procedures reasonably related to verifying that the representative is in fact authorized to act on behalf of the student loan borrower;  h. make any false statement or knowingly and willfully make any omission of a material fact in connection with any information or reports filed with a governmental agency or in connection with any investigation conducted by the commissioner or another governmental agency; i. fail to respond within 15 business days to communications from the Department of Banking and Insurance, or within such shorter, reasonable period of time as may be requested by the department; or j. fail to respond within 15 business days to a consumer complaint submitted to the student loan servicer by the department. If necessary, the student loan servicer may request additional time to respond to the complaint, up to a maximum of 45 business days, provided that the request is accompanied by an explanation on why additional time is reasonable and necessary. L.2019, c.200, s.9.
NJ Rev Stat § 17:16ZZ-11 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16ZZ-11 - Suspension, revocation, refusal to renew license; violations, penalties.

17:16ZZ-11 Suspension, revocation, refusal to renew license; violations, penalties.  11. a. The commissioner may suspend, revoke or refuse to renew any license issued under the provisions of subsection c. of section 4 of this act, or take any other action, if the commissioner finds that: (1) the licensee has violated any provision of this act or any regulation made pursuant to this act; or (2) any fact or condition exists which, if it had existed at the time of the original application for the license, clearly would have warranted a denial of the license. No abatement of the license fee shall be made if the license is surrendered, revoked, or suspended prior to the expiration of the period for which it was issued. b. (1) Whenever it appears to the commissioner that any person has violated, is violating or is about to violate any of the provisions of this act, or any regulation adopted pursuant to this act, or any licensee or any owner, director, officer, member, partner, shareholder, trustee, employee or agent of a licensee has committed any fraud, engaged in dishonest activities or made any misrepresentation, the commissioner may bring a civil suit in a court of competent jurisdiction to enjoin the violation or potential violation, seek civil penalties pursuant to paragraph (2) of this subsection, or both. (2) Any person who violates any provision of this act shall be liable, in a civil action brought by the commissioner in a court of competent jurisdiction, for a penalty of not more than $10,000 for the first violation, and $20,000 for the second and each subsequent offense. The penalty shall be paid to the commissioner to be used in accordance with this act and shall be collected pursuant to the "Penalty Enforcement Law of 1999," P.L.1999, c.274 (C.2A:58-10 et seq.). The court shall also award court costs and reasonable attorneys' fees to the commissioner. L.2019, c.200, s.11.
NJ Rev Stat § 17:16ZZ-12 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:16ZZ-12 - Actions, counterclaims by borrower.

17:16ZZ-12 Actions, counterclaims by borrower.  12. A student loan borrower who suffers any ascertainable loss of moneys as a result of the use or employment by a student loan servicer of any method, act, or practice declared unlawful under this act may bring an action or assert a counterclaim therefor in any court of competent jurisdiction. In any action under this section the court shall, in addition to any other appropriate legal or equitable relief, award threefold the damages sustained by the student loan borrower. In all actions under this section, the court shall also award reasonable attorneys' fees, filing fees, and reasonable costs of suit. L.2019, c.200, s.12.