S 3421
Requires, or sanctions, as appropriate, financial institutions to take certain action when senior or vulnerable customers make certain financial transactions.
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Sign in to take action- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Bill overview
This bill requires New Jersey financial institutions, such as banks and credit unions, to take specific actions when they suspect that senior or vulnerable customers are being targeted by financial scams. It mandates that these institutions release financial records to county adult protective services providers and law enforcement agencies under certain circumstances. The bill also establishes guidelines for delaying transactions and requires financial institutions to provide training to their employees on recognizing and preventing financial exploitation of vulnerable individuals.
Sponsors
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Primary sponsors
Cosponsor
Robert Singer
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