New Jersey A 4541: Eliminates smoking ban exemption for casinos and simulcasting facilities.

Bill Text

A4541 

ASSEMBLY, No. 4541 

STATE OF NEW JERSEY

222nd LEGISLATURE

� 

INTRODUCED MARCH 10, 2026

Sponsored by:

Assemblywoman� CAROL A. MURPHY

District 7 (Burlington)

Assemblyman� DAN HUTCHISON

District 4 (Atlantic, Camden and Gloucester)

SYNOPSIS

���� Requires, or sanctions, as appropriate, financial 
institutions to take certain action when senior or vulnerable customers make 
certain financial transactions. 

CURRENT VERSION OF TEXT 

���� As introduced.

�� 

An Act concerning certain financial transactions by vulnerable 
or senior customers and amending P.L.1998, c.121.

���� Be It 
Enacted by the Senate and General Assembly of 
the State of New Jersey:

���� 1.��� The Legislature finds 
and declares that:

���� a.���� Malevolent actors use 
sophisticated techniques to take advantage of senior and vulnerable 
individuals, with the intent of stealing the hard-earned assets of these 
individuals.

���� b.��� Senior and vulnerable 
customers have suffered extreme financial loss upon completing financial 
transactions that turn out to be scams.

���� c.���� Under current laws, 
banks and other financial institutions may be hesitant to take action in the 
event of an unusual or suspicious transaction.

���� d.��� This act ensures that 
financial institutions may delay financial transactions in order to review and 
refer these transactions to appropriate authorities and that employees of 
financial institutions have adequate training to identify suspicious transactions.

���� 2.��� Section 2 of P.L.1998, 
c.121 (C.17:16T-2) is amended to read as follows:

���� 2.��� As used in this act:

���� "Account" means a 
deposit or fiduciary account maintained with a financial institution in the 
senior or vulnerable customer's name.

���� �Department� means the 
Department of Banking and Insurance.

���� "Community setting" 
means a private residence or any noninstitutional setting in which a person may 
reside alone or with others, but shall not include residential health care 
facilities, rooming houses or boarding homes or any other facility or living 
arrangement subject to licensure by, operated by, or under contract with, a 
State department or agency.

���� "County adult protective 
services provider" means a county Board of Social Services or other public 
or nonprofit agency with experience as a New Jersey provider of protective 
services for adults, designated by the county and approved by the Commissioner 
of Human Services pursuant to the "Adult Protective Services Act," 
P.L.1993, c.249 (C.52:27D-406 et seq.).

���� "Financial 
institution" means a state or federally chartered bank, savings bank, 
savings and loan association or credit union.

���� "Financial record" 
means an original of, a copy of, or information known to have been derived 
from, any record held by a financial institution pertaining to a senior or 
vulnerable customer's account or relationship with the financial institution.��� 

���� "Law enforcement 
agency" means a law enforcement agency of the State or of a local 
government unit.

���� �Qualified individual� means 
any person employed by a financial institution and who is authorized or 
responsible for conducting transfers and other financial transactions as part 
of the employee�s duties, or who is employed by a financial institution and who 
is authorized or responsible as a supervisor or manager of any employee 
conducting transfers or financial transactions as part of the employee�s 
duties.

���� "Senior customer" 
means a natural person, who, to the financial institution acting in good faith, 
appears to be at least 60 years of age, who utilized or is utilizing any 
service of a financial institution, or for whom a financial institution is 
acting or has acted as a fiduciary, in relation to an account maintained in the 
person's name.

���� "Vulnerable 
customer" means a natural person, who is at least 18 years of age, resides 
in a community setting, and, to a financial institution acting in good faith, 
appears to have a physical or mental illness, disability or deficiency, or lacks 
a sufficient understanding of, and the capacity to make, communicate or carry 
out decisions concerning, the management of the customer's� savings or 
resources, who utilized or is utilizing any service of a financial institution, 
or for whom a financial institution is acting or has acted as a fiduciary, in 
relation to an account maintained in the person's name.

(P.L.1998, c.121, s.2)

���� 3.��� Section 3 of P.L.1998, 
c.121 (C.17:16T-3) is amended to read as follows:

���� 3.��� a. �Notwithstanding 
any other law, regulation or common law to the contrary, a financial 
institution [may] shall 
release the financial records regarding a customer's account to [a law 
enforcement agency,] 
a county adult protective services provider[, 
or both] 
if:

���� [a.] (1) A vulnerable customer 
or a senior customer has a beneficial interest in the account either wholly or 
in part; and

���� [