NJ S894

Financial institutions in New Jersey (banks, savings banks, savings and loan associations, credit unions, money transmitters) would be prohibited from penalizing, fining, or confiscating funds from consumers for expressing constitutionally protected speech

Prohibition extends to consumers using financial institution services to express constitutionally protected speech

Financial institutions cannot include clauses penalizing free speech in contracts or general policies issued or renewed after the bill takes effect

Civil penalties of up to $10,000 per violation or $50,000 per willful violation would be enforced by the Commissioner of Banking and Insurance

Bill is pre-filed for the 2026 legislative session, sponsored by Senator Michael L. Testa, Jr. of District 1 (Atlantic, Cape May, and Cumberland counties)