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Financial Services Law Insights and Observations

New Jersey Department of Banking extends filing deadlines for certain annual reports

State Issues Covid-19 New Jersey Banking Licensing Insurance Auto Finance Money Service / Money Transmitters Mortgages Mortgage Broker Broker-Dealer

State Issues

On May 12, the New Jersey Department of Banking Insurance issued a bulletin regarding the extension of deadlines for certain entities and individual regulated by the Division of Banking to file annual reports. Certain enumerated licensees, including check cashers, insurance premium finance companies, motor vehicle installment sellers, and money transmitters, are granted an extension until June 1 to file annual reports. However, licensees must file their subsequent annual report by April 1, 2021. Mortgage lenders and mortgage brokers who are required to file an annual report on or before May 1, are also granted an extension to June 1. The next annual report must be filed by May 1, 2021.