Requires State-chartered financial institutions to increase minimum reserve balances by five times amount of previous year's losses relating to fraud and theft.

This bill requires New Jersey state-chartered banks, credit unions, and similar financial institutions to maintain reserve funds equal to five times the total value of their previous year's reported fraud, theft, cyber theft, or robbery losses plus related damages. These institutions must annually audit their losses and report the findings to the Banking Commissioner to verify sufficient reserves. The goal is to ensure institutions have adequate funds to refund customers' lost or stolen money during investigations and recovery efforts. The requirement applies only to state-supervised institutions, not federally chartered banks, and takes effect one year after enactment.