Requires, or sanctions, as appropriate, financial institutions to take certain action when senior or vulnerable customers make certain financial transactions.

This bill requires financial institutions in New Jersey to delay certain transactions involving senior or vulnerable customers when suspicious activity is suspected. It mandates that banks and credit unions share account information with adult protective services or law enforcement if there is evidence of potential fraud against these individuals. The legislation also establishes specific definitions for who qualifies as a senior customer (60 or older) or a vulnerable customer (18 or older with physical or mental limitations) and outlines the conditions under which financial records can be released for investigation purposes.