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NMB Agrees to Stop Issuing Credit Cards

New Millennium Bank

NEW YORK — A small New Jersey bank, New Millennium Bank, that specializes in credit cards for people with damaged credit histories has shut down its card program because of regulatory problems.

New Millennium Bank, a three-branch bank based in New Brunswick, said Monday in its first-quarter earnings report that it has temporarily stopped accepting and processing applications and issuing new credit cards as the result of an agreement with the Federal Deposit Insurance Corp. The bank previously advertised its cards on several credit card websites and issued cards nationwide…” (continue reading)

Source: USAtoday, By Eileen Aj Connelly, AP Personal Finance Writer

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