Are banks in New Jersey subject to state "pay to play" rules or is there a banking rule that they must follow?
State laws for areas can be difficult to understand. In this case, a little searching and a talk with a banker in New Jersey yielded the following. Based on this information it looks like the pay to play is largely applicable to taxing authorities such as government entities and school districts and highway builders and contractors. Banks can receive deposits from some of these entities, but it looks like the applicable law for these deposits is under GUDPA. Remember, this is not meant to be legal advice.
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State laws for areas can be difficult to understand. In this case, a little searching and a talk with a banker in New Jersey yielded the following. Based on 