NJ S4694

Establishes a State Community Reinvestment law requiring the Department of Banking and Insurance to examine and rate banks, mortgage companies, and credit unions on their lending, investments, and financial services to low- and moderate-income consumers and underserved communities at least every three years

Assigns ratings ranging from "Outstanding" to "Substantial noncompliance" based on institutions' records in retail lending, community development, low-cost deposit accounts, and efforts to assist delinquent borrowers and prevent displacement of low/moderate-income populations

Requires institutions receiving a "low satisfactory" or lower rating to submit improvement plans within 90 days, subject to public comment for at least 60 days

Mandates the department conduct a disparity study every three years to identify underserved counties, populations, and census tracts, with findings reported to the Legislature

Bars institutions rated "needs to improve" or "substantial noncompliance" from receiving State agency deposits and requires all institutions to post public notices about community reinvestment evaluations in branches and on websites