NJ A4374

Requires financial institutions to release customer account records to county adult protective services providers when suspecting fraud involving vulnerable adults (those with physical/mental disabilities affecting financial decision-making) or senior customers (age 60+), changing current law from permissive to mandatory disclosure.

Authorizes financial institutions to delay suspicious transactions for up to 15 business days if a qualified employee reasonably believes the transaction may result in financial exploitation, with possible extension to 25 business days upon request from authorities.

Mandates that financial institutions notify the Department of Banking and Insurance and county adult protective services within two business days of delaying any transaction, and provide investigation updates within seven business days of completing internal review.

Requires financial institutions to provide employee training on recognizing financial exploitation indicators, reporting procedures, and prevention steps within 45 days of the bill's enactment, with new employees trained within their first three months.

Grants immunity from administrative and civil liability to financial institutions that delay transactions in good faith and with reasonable care under this law.