Prohibits financial institutions from penalizing individuals for exercise of free speech.

S 1376 (New Jersey) prohibits banks, credit unions, and other financial institutions operating in the state from fining, penalizing, or confiscating funds from customers for expressing constitutionally protected speech or using their services to share such speech. The bill specifically bans financial institutions from including these restrictions in customer contracts or policies, and requires them to remove any existing clauses that violate this rule. Violations would result in civil penalties of up to $10,000 per incident (or $50,000 for willful violations), enforced by the Commissioner of Banking and Insurance. This bill directly affects all New Jersey consumers who use financial services and aims to protect free speech from being restricted through banking policies. (Note: The bill was introduced in January 2024 and is pending in the Senate Commerce Committee.)