Revises "New Jersey Money Transmitters Act"; provides consumer protections; increases reporting and record keeping requirements.

This bill updates New Jersey's licensing rules for money transmitters (companies handling payments like wire transfers, money orders, or digital payments). It directly affects businesses operating in the state that transmit money for a fee, requiring them to maintain detailed records for five years instead of three, including transaction dates, amounts, and settlement sheets from authorized delegates. The bill also strengthens consumer protections and clarifies definitions for terms like "licensee" and "authorized delegate" to improve oversight. These changes aim to enhance transparency and accountability in the money transmission industry without altering core business operations.