N.J. Admin. Code § 3:14-1.4

Current through Register Vol. 56, No. 23, December 2, 2024

Section 3:14-1.4 - Standards for approving or disapproving applications

(a) In evaluating an application or notice under 3:14-1.3, the Commissioner may disapprove the application or bank service if, in his or her judgment:

1. The activity is inappropriate for the bank service corporation or for any affiliate;

2. The activity is unduly risky to the safety and soundness of the bank service corporation or for any affiliate; or

3. The bank service corporation or any affiliate has a substantial problem in any of the following areas:

i. Financial history and condition;

ii. Managerial resources;

iii. Funding and liquidity;

iv. Interest-rate exposure;

v. Concentration of assets; or

vi. Volume of assets classified as substandard, doubtful or loss, or subject to special mention.

N.J. Admin. Code § 3:14-1.4