N.J. Stat. tit. 17, ch. 16H

in effect

N.J. Stat. § 17:16H-1 Definitions.

1. As used in this act: a. "Financial institution" shall mean any bank, savings bank, state association, credit union, residential mortgage lender, residential mortgage broker, consumer lender or any other institution, corporation, partnership or individual subject to the supervision, regulation or licensing by the Department of Banking and Insurance. b. "Commissioner" shall mean the Commissioner of Banking and Insurance of New Jersey. L.1979, c.193, s.1; amended 2018, c.108, s.16.

N.J. Stat. § 17:16H-2 Prohibited advertisements, announcements or statements

No financial institution shall make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in a newspaper, magazine or other publication, or in the form of a notice, circular, pamphlet, letter or poster, or over any radio or television station, or in any other way, an advertisement, announcement or statement containing any assertion, representation or statement with respect to the business of banking, lending or being a financial institution or with respect to any person in the conduct of such business, which is inaccurate, untrue, deceptive or misleading, or which negatively affects the public's confidence in such financial institution or financial institutions in general. L.1979, c. 193, s. 2, eff. Sept. 13, 1979.

N.J. Stat. § 17:16H-3 Enforcement; regulations

The commissioner shall enforce the provisions of this act and shall promulgate such regulations as he deems necessary for the effective implementation of this act, including regulations establishing standards for advertising by financial institutions. L.1979, c. 193, s. 3, eff. Sept. 13, 1979.

N.J. Stat. § 17:16H-4 Cease and desist order; notice and hearing; penalty for failure to comply

The commissioner may, after notice and opportunity for a hearing, order any financial institution to cease and desist from violations of this act. Any financial institution which fails to comply with an order of the commissioner shall be subject to a penalty not to exceed $500.00 for each violation. Any penalty imposed by the commissioner shall be enforced and collected pursuant to the penalty enforcement law (N.J.S. 2A:58-1 et seq.). L.1979, c. 193, s. 4, eff. Sept. 13, 1979.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.njleg.state.nj.us/legislative-activity/statutesFetched: 10/17/2026