Bill > S3744

Introduced Session

This bill prohibits financial institutions organized or doing business under the laws of this State from penalizing individuals for expression of constitutionally protected speech. Many people living in New Jersey depend upon financial institutions, including banks, savings banks, savings and loan associations, building and loan associations, credit unions, or money transmitters, for critical aspects of business and personal affairs. Private financial institutions could presently include restrictions on consumers' exercise of free speech through user policies penalizing certain expressions of constitutionally protected speech. This bill protects constituents of this State from these policies by prohibiting them and by providing the Commissioner of Banking and Insurance with a means of enforcement. A financial institution determined by the Commissioner of Banking and Insurance to have violated the provisions of this bill will be subject to a civil penalty of up to $10,000 for each violation or up to $50,000 for each willful violation.

Committee Categories

Mike Testa (R)*, 

Introduced in the Senate, Referred to Senate Commerce Committee (on 03/30/2023)

Official Document