N.J. Admin. Code § 3:11-10.2

Current through Register Vol. 56, No. 21, November 4, 2024

Section 3:11-10.2 - Parity provisions

(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.