New Jersey Administrative Code
Title 3 - BANKING
Chapter 11 - INVESTMENTS
Subchapter 10 - SAVINGS BANKS AND STATE ASSOCIATIONS: CREDIT CARDS
Section 3:11-10.2 - Parity provisions
Universal Citation: NJ Admin Code 3:11-10.2
Current through Register Vol. 56, No. 18, September 16, 2024
(a) This subchapter is issued in accordance with the authority granted to the Commissioner to place savings banks and State associations on a substantial competitive parity with Federally chartered savings and loan associations which currently have the authority to participate in credit card operations.
(b) It is further provided that savings banks and State associations may operate such credit card programs upon the same terms and conditions as the Federal Home Loan Bank Board may prescribe from time to time for such Federally chartered savings and loan associations.
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