INDUSTRY NEWS
New Jersey Signs Comprehensive Consumer Privacy Law
Governor Phil Murphy signed Senate Bill No. 332 into law on January 16, 2024.
Senate Bill No. 332 (SB 332) establishes obligations for "controllers," classified as entities or individuals conducting business in New Jersey that determine the purpose and means of processing personal data. To meet the thresholds of the law, entities must control/process:
- the data of at least 100,000 consumers (excluding payment transaction data); or
- the personal data of at least 25,000 consumers and the controller derives revenue or receives a discount on the price of any goods or services from the sale or personal data.
Similar to most other state's consumer privacy law, SB 332 exempts employment data from its scope, stating that "consumers shall not include a person acting in a commercial or employment context." Additionally, the law exempts personal data collected, processed or sold by consumer reporting agencies under the Fair Credit Reporting Act ("FCRA"), and protected health information ("PHI") collected by a covered entity or business associate under the Health Insurance and Portability and Accountability Act ("HIPAA"). SB 332 also provides exemptions for financial institutions, data, or affiliates of financial institutions subject to the Gramm-Leach-Bliley Act ("GLBA").
Posted: February 6, 2024
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