Article: NEW YORK, NEW JERSEY, PENNSYLVANIA SIGN TRI-STATE BANKING PACT

The New York State Banking Department issued the following news release:

Banking officials from Pennsylvania, New York and New Jersey today signed a compact that will allow banks in those three states to expand across state lines and be regulated only by their home state regulator.

The compact, an agreement which will strengthen the state chartered banking system and the financial services industry in the greater New York Metropolitan Region, was signed in ceremonies today in Jersey City and New York City.

"This agreement strengthens and streamlines our states' regulation of banks and financial institutions, and will enhance banks' abilities to expand across state lines," said New Jersey ...

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