Requires, or authorizes, as appropriate, financial institutions to take certain action upon certain financial transactions made by vulnerable or senior customer.

This New Jersey bill requires financial institutions to take specific actions when they suspect financial exploitation involving senior customers or vulnerable adults. It mandates that banks and credit unions delay transactions if a qualified employee reasonably believes a vulnerable or senior customer is being exploited and must notify account holders within two business days. Additionally, the law allows these institutions to share account records with county adult protective services providers or law enforcement agencies when illegal activity is suspected. The legislation defines "senior customers" as individuals aged 60 or older and "vulnerable customers" as adults with physical or mental conditions that limit their decision-making capacity.