S.3421

New Jersey S3421 mandates financial institutions to release records and delay transactions for vulnerable or senior customers suspected of financial.

New Jersey S3421 requires financial institutions to release financial records to county adult protective services providers when they suspect fraud involving vulnerable or senior customers. These providers can then share the records with law enforcement if necessary. The bill also allows financial institutions to delay transactions under suspicious circumstances and mandates training for employees to recognize and report financial exploitation of vulnerable and senior customers. The bill provides immunity for financial institutions acting in good faith.