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Businesses Operating in the Garden State Brace For NJ Governor Murphy

November 8, 2017

Democrat Phil Murphy has been elected as the next Governor of the State of New Jersey. Murphy comes in to the office with a double-digit victory over departing lieutenant governor Kim Guadagno (R), and the backing of a state legislature controlled by Democrats. Governor-Elect Murphy, who has never served in elected office, promises to take the Garden State in a new direction.

Among the portions of his platform most likely to be of interest to businesses, Governor-Elect Murphy has committed to:

“Establishing a state-level Consumer Financial Protection Bureau and strengthening existing regulations in light of President Trump’s efforts to roll-back the federal Dodd-Frank Wall Street reform law”;

“Holding bankers accountable by prosecuting financial fraud”;

“Requiring telecom providers and ISPs to seek permission before collecting personal information”;

“Appointing an Attorney General who will enforce consumer protections around data privacy”;

“Improving our state’s existing cybersecurity and other Homeland Security initiatives”; and

“Convening stakeholders in government, industry, and academia to share best practices in cybersecurity and to foster new innovations.”