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The New Jersey Department of Banking and Insurance (DOBI) is one of 15 principal departments in New Jersey government. The department's mission is to regulate the banking, insurance and real estate industries in a professional and timely manner that protects and educates consumers and promotes the growth, financial stability and efficiency of these industries. [1]
international banking licenses (offshore banking licenses), which prohibits any local business activities non-banking financial institution ( NBFI ) is an institution that provides financial services but has to comply with fewer regulations than one with a full banking license.
Governor Chris Christie nominated Considine to serve as Commissioner of the New Jersey Department of Banking and Insurance (DOBI) on January 15, 2010. [6] [7]Considine repealed several out-dated or burdensome regulations, led DOBI through reaccreditation by the National Association of Insurance Commissioners (NAIC) and Conference of State Banking Supervisors (CSBS) and fought insurance fraud.
These are the New Jersey banking layoffs announced so far in 2024: The Bank of New York Mellon Corporation: 62 jobs. TD Bank: 54 jobs. Prudential Financial: 145 jobs. Citibank: 187 jobs.
Department of Banking and Insurance: Department licenses and regulates all state-chartered financial institutions, regulates the state's insurance industry, and ...
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Apart from the bank regulatory agencies the U.S. maintains separate securities, commodities, and insurance regulatory agencies at the federal and state level, unlike Japan and the United Kingdom (where regulatory authority over the banking, securities and insurance industries is combined into one single financial-service agency). [1]
U.S. banks shuttered a record 38 percent of their retail branches in 2021, including several in NJ, as pandemic drives digital banking.