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Law

Social Innovation Act, an N.J. bill seeking private investment in public health, advances

The bill, dubbed the “New Jersey Social Innovation Act” and released by the Senate Economic Growth Committee after a unanimous vote with amendments, is geared toward encouraging private investment in the field and keeping public spending down. Under the legislation, eligible entities would be provided with a loan funded by private investors administered by the ...

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PHH, state reach 6.25M consumer fraud settlement

“This settlement provides relief to a large number of individual consumers who were subjected to unacceptable mortgage servicing practices,” Hoffman said in a release. “It also ensures appropriate reforms in PHH’s mortgage-servicing operations.” The settlement requires no admission of wrongdoing or liability. It consists of $3.62 million in restitution for more than 2,000 borrowers across ...

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Assembly panel passes bill prohibiting companies from requiring contract disputes be settled out-of-state

The bill, which is sponsored by four Assembly Democrats, was released with a 3-1 vote by the Assembly Consumer Affairs Committee. Sponsors claim prohibiting requirements found in consumer contracts that disputes be settled out-of-state will help to level the playing field between consumers and businesses. “Consumers deserve fair consideration when it comes to resolving these ...

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Jersey City mayor calls Port Authority chairman’s claim of compliance wrong

Port Authority Chairman David Samson told NJBIZ this week his Authority is “in compliance” with its obligations, despite the recent $400 million lawsuit.But Jersey City Mayor Steven Fulop was quick to answer Samson’s claim. Fulop said on Twitter (embedded below), referring to the Authority’s delayed response as well as Samson’s claim, “they finally woke up ...

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Too big to fail American Dream worth one more shot

So one of the first awards under the controversial Economic Opportunity Act goes to one of the most controversial projects in recent history. Sounds about right. Triple Five, of course, is the last developer standing that thinks it can reboot Xanadu into American Dream, a shopping and entertainment paradise in the shadow of MetLife Stadium. ...

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IXP moves to expanded Princeton headquarters

According to the announcement, IXP now occupies more than 5,500 square feet at 103 Main Street in Princeton. IXP has added nearly 100 new positions in the last 4 years and by the end of 2013 will have more than 140 employees. Revenues also have increased 50 percent since January 2012. The tenant representatives in ...

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