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Bill > S894
NJ S894
NJ S894Prohibits financial institutions from penalizing individuals for exercise of free speech.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
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.
AI Summary
This bill prohibits financial institutions in New Jersey, such as banks, credit unions, and money transmitters, from punishing individuals for exercising their constitutionally protected free speech rights, meaning they cannot penalize, fine, or take a consumer's funds for expressing protected speech or using the institution's services to do so. This protection extends to preventing financial institutions from including any contract clauses or policies that violate these provisions in agreements with consumers. The Commissioner of Banking and Insurance is empowered to enforce this bill, with financial institutions found in violation facing civil penalties of up to $10,000 per violation, or up to $50,000 for willful violations.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S894 |
| BillText | https://pub.njleg.gov/Bills/2026/S1000/894_I1.HTM |
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