NJ A4541

Requires financial institutions to release customer account records to county adult protective services providers when suspecting fraud against senior customers (age 60+) or vulnerable customers, changing the current law from permissive to mandatory.

Authorizes financial institutions to delay suspicious transactions for up to 15 business days (extendable to 25 days) when a qualified employee reasonably believes the transaction may result in financial exploitation of a senior or vulnerable customer.

Mandates that financial institutions notify the Department of Banking and Insurance and county adult protective services within two business days of delaying any transaction, with ongoing investigation updates required within seven business days.

Requires financial institutions to provide employee training on recognizing indicators of financial exploitation within 45 days of enactment, with new employees trained within their first three months of employment.

Grants immunity from administrative or civil liability to financial institutions that delay transactions in good faith while exercising reasonable care under the bill's provisions.