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NJ S2787

Bill

Official Source

Status

Introduced

1/13/2026

Primary Sponsor

Angela Mcknight

Click for details

Origin

Senate

2026-2027 Regular Session

AI Summary

  • State-chartered banks, savings banks, savings and loan associations, and credit unions in New Jersey must mail paper account statements free of charge to account holders aged 65 and older
  • Elder adults may opt out of receiving paper statements by notifying their depository institution
  • Periodic account statements must reflect all debits and credits and be provided at the end of each periodic cycle (quarterly or more frequently)
  • The Commissioner of Banking and Insurance may order institutions to cease violations and impose fines up to $500 per violation
  • The law takes effect 90 days after enactment

Legislative Description

Requires depository institutions to provide paper account statements to elder adults.

Commerce

Last Action

Introduced in the Senate, Referred to Senate Commerce Committee

1/13/2026

Committee Referrals

Commerce1/13/2026

Full Bill Text

No bill text available