The State of New Jersey
NJ Department of Banking and Insurance
search  

 
Home > Banking Division > Depository and Licensee Enforcement Activity
Depository and Licensee Enforcement Activity
Looking for Depository Enforcement or Licensee Enforcement?
 Depository Enforcement

 

2014
Institution: GSL Savings Bank
Type of Action:
Acknowledgement and Consent of Federal Deposit Insurance Corporation Consent Order
Effective Date:
April 16, 2014
Reason: Safety and soundness issues related to Management, Board Participation, Interest Rate Risk Management, Asset/Liability Management Policy, Liquidity Policy, Investment Policy, Capital, Profit and Budget Plan, Strategic Plan, and Correction of Violations.
 
Institution: New Jersey Community Bank
Type of Action:
Acknowledgement and Consent of Federal Deposit Insurance Corporation Consent Order
Effective Date:
March 26, 2014
Reason: Safety and soundness issues related to Management, Board Participation, Loss Charge-Offs, Classified Assets Reduction, Allowance for Loan and Lease Losses, Loan Policy, Loan Review Program, Profit and Budget Plan, Strategic Plan, Correction of Violations, and Dividends.
 
Institution: The Bank of Princeton
Type of Action:
Acknowledgement and Consent of Federal Deposit Insurance Corporation Consent Order
Effective Date:
February 3, 2014
Reason: Safety and soundness issues related to Board Supervision, Management, BSA Compliance Program, BSA/AML Risk Assessment, BSA Internal Controls, BSA Independent Testing, BSA Officer, BSA Staffing, BSA Training, BSA Reporting, BSA Look Back Review, Audit, and Correction of Violations.
 
2013
Institution: Liberty Bell Bank
Type of Action:
Consent Order - issued in parallel with the Federal Deposit Insurance Corporation
Effective Date:
November 18, 2013
Reason: Safety and soundness issues related to Management, Loss Charge Offs, Classified Assets Reduction, Allowance for Loan and Lease Losses, Capital, Concentrations of Credit, Liquidity and Funds Management, Profit and Budget Plan, Dividends, Brokered Deposits and Correction of Violations
 
Institution: Community First Bank
Type of Action:
Acknowledgement and Consent of Federal Deposit Insurance Corporation Consent Order
Effective Date:
September 23, 2013
Reason: Safety and soundness issues related to Board Supervision, Management, BSA Compliance Program, BSA/AML Risk Assessment, BSA Internal Controls, BSA Independent Testing, BSA Officer, and BSA Staffing
 
Institution: Crown Bank
Type of Action:
Amended Consent Order - issued in parallel with the Federal Deposit Insurance Corporation
Effective Date:
May 9, 2013
Reason: Safety and soundness issues related to Management, Board Participation, Capital, Dividends, Loss Charge Offs, Asset Quality, Allowance for Loan and Lease Losses, Concentrations of Credit, Reappraisal/Reevaluation of Collateral, Loan Review Program, Other Real Estate Owned Policy, Capitalized Interest, Interest Reserves and Origination Fees, Management Information Systems, Growth Planning, Strategic Planning, Audit Program, Internal Routine and Controls, Liquidity and Funds Management, Brokered Deposits, and Financial Reporting
 
2012
Institution: Cornerstone Bank
Type of Action:
Consent Order - issued in parallel with the Federal Deposit Insurance Corporation
Effective Date:
October 22, 2012
Reason: Safety and soundness issues related to Management, Board Participation, Asset Quality, Loan Review Program, Loan Policy, Capital, Profit and Budget Plan, and Strategic Plan

2010
Institution: New Millennium Bank
Type of Action:
Consent Order - issued in parallel with the Federal Deposit Insurance Corporation
Effective Date:
November 16, 2010
Reason: Safety and soundness issues related to Capital, Asset Quality, Management, Earnings, Liquidity, Sensitivity to Market Risk and Information Technology functions
2009
Institution: Amboy Bank
Type of Action:
Written Agreement - issued in parallel with the Federal Reserve Bank of New York
Effective Date:
June 29 , 2009
Reason: Safety and Soundness issues related to Capital, Asset Quality, Earnings, Management, Liquidity and Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Compliance
 
Office of Consumer Finance Enforcement
January > February > March > April > May > June > July > August > September > October > November

Previous Years: 2013 > 2012 > 2011 > 2010 > 2009 > 2008 > 2007 >
2006
May 2014


Consent Order

Mortgage Help for America
Neal Vanderpeol
Consent Order #E13-013780, May 1, 2014. Respondents agreed to immediately cease and desist engaging in any debt adjustment activities, including the business of advertising or providing loan modification services, with NJ residents, without a license under the Debt Adjustment Act. Respondents agreed to pay administrative penalties. Penalty: $1,000.

Final Order

Baymar Capital Funding, LLC
Scott Feltman
Final Order #E13-013741, May 7, 2014; Order to Show Cause #E13-013741, March 13, 2014. Respondents are ordered to immediately cease and desist engaging in any debt adjustment activities, including but not limited to the business of providing loan modification services, with NJ residents or from a location in New Jersey without a license under the Debt Adjuster Act. Respondents are jointly and severally liable to pay administrative penalties. Respondents are jointly and severally liable to pay restitution in the form of full refund of loan modification service fees collected in the aggregate amount of $49,753.72 to their NJ customers. Penalty: $101,000.

 
April 2014


Consent Order

Denker Law Group
Aaron D. Denker
Order #E13-014090, April 15, 2014. Respondents agreed to cease engaging in the business of debt adjustment in the State of New Jersey without the appropriate license issued by the Department under the Act. Respondents agreed to pay restitution in the amount of $2,500 to their former client. Respondents agreed to pay civil administrative penalties. Penalty: $500. 

 
March 2014


Order to Show Cause

Baymar Capital Funding, LLC
Scott Feltman
Order #E13-013741, March 13, 2014. Respondents ordered to appear and show cause why the Commissioner should not order them to immediately cease and desist in engaging in any debt adjustment activities, including the business of loan modification services with NJ residents or from a location outside of New Jersey, without a license or exemption under the NJ Debt Adjusters Act. Respondents have the right to request an administrative hearing within 20 calendar days from the date of service of the Order to Show Cause.

 
February 2014


Consent Order

Rana Financial, LLC
d/b/a Rana Express
Ronildo A. Freitas
Order #E14-014370, February 19, 2014. Licensee agreed to resubmit its 2010, 2011 and 2012 Annual Reports to the Department with corrected financial information as required. Licensee agreed to pay civil administrative penalties. Penalty: $6,000.

 
January 2014

Consent Order

Checks Cashed, ETC, LLC
Mohan Myneni
Order #E13-014180, January 8, 2014. Licensee agreed to ensure that all its employees have submitted to being fingerprinted and have provided written consent to the performance of background checks. Licensee agreed to pay civil administrative penalties. Penalty: $4,750.

 
OPRA
OPRA is a state law that was enacted to give the public greater access to government records maintained by public agencies in New Jersey.
line
Adobe Acrobat
You will need to download the latest version of Adobe Acrobat Reader in order to correctly view and print PDF (Portable Document Format) files from this web site.
state seal
Copyright © 2011, State of New Jersey
New Jersey Department of Banking and Insurance