Requires, or authorizes, as appropriate, financial institutions to take certain action upon certain financial transactions made by vulnerable or senior customer.

This bill requires New Jersey financial institutions to take specific actions to protect vulnerable adults (18+ with physical/mental limitations affecting financial decisions) and senior customers (60+ years). Financial institutions must release customer account records to law enforcement or adult protective services if they suspect exploitation involving these customers, and they may delay transactions they reasonably believe could lead to financial exploitation. Institutions must notify affected parties within two business days of delaying a transaction, unless the party is suspected of exploitation. The law directly affects banks, credit unions, and other financial institutions operating in New Jersey, aiming to prevent financial abuse of vulnerable populations.