Capital Briefs: N.J. Told to License Bank-Owned Title Insurer

The U.S. District Court for the District of New Jersey told state regulators to license a title insurer affiliated with a bank.

The court's June 14 ruling instructed New Jersey state regulators to issue a title insurance producer's license to Wayne Title Inc. of Riverdale, N.J., which is owned by Valley National Bank of Wayne, N.J.

This is another in a series of victories for the Office of the Comptroller of the Currency since a 1996 Supreme Court decision said states may not prevent national banks from selling insurance from towns with less than 5,000 people.