Christopher Peterson helped strengthen safeguards against predatory lending to military families

Gov. Mikie Sherrill plans to nominate a nationally recognized consumer protection expert and former federal official to lead the New Jersey Division of Consumer Affairs, Attorney General Jennifer Davenport announced Monday.

Christopher L. Peterson will begin serving as acting director Aug. 3 while awaiting formal nomination and confirmation by the state Senate. Peterson ran for Governor of Utah in 2020, losing to Republican Spencer Cox in the general election.

Peterson previously served as a senior official at the U.S. Consumer Financial Protection Bureau, where he helped establish the agency and develop its enforcement policies and strategy. He also worked to strengthen the federal Military Lending Act, which protects service members and their families from predatory loans and other abusive financial practices.

The Division of Consumer Affairs investigates consumer fraud, regulates the securities industry, and oversees 51 professional and occupational licensing boards. Those boards regulate hundreds of thousands of professionals, including doctors, nurses, pharmacists, accountants, electricians, and real estate agents.

“Chris Peterson has spent decades fighting for consumers through public service, congressional advocacy, and in the courtroom,” Sherrill said in a statement announcing the appointment.

Sherrill said Peterson’s selection is part of a broader state effort to fill what her administration sees as a retreat in federal consumer protection. She accused the Trump administration of abandoning the Consumer Financial Protection Bureau’s mission, and said Peterson would help New Jersey protect residents from predatory business practices as families struggle with rising costs.

Davenport said Peterson’s experience developing consumer protection policy and enforcing the law would help the division use New Jersey’s existing laws to address illegal conduct contributing to the state’s affordability problems.

“Chris has a remarkable record of holding lawbreakers accountable and relentlessly pursuing economic justice for consumers and military families throughout his career,” Davenport said.

Peterson most recently served as the John J. Flynn Endowed Professor of Law at the University of Utah’s S.J. Quinney College of Law. His academic work has focused on consumer finance, predatory lending, financial regulation, and consumer protection law.

In a statement, Peterson said his priorities would include protecting residents from scams and exploitation, making the agency easier for the public to use, and distinguishing honest businesses from those that violate state law.

“On day one, I will get to work to make life more affordable for New Jersey families by protecting consumers from scams and exploitation, and to ensure that our agency supports honest businesses while holding those who break our laws accountable,” Peterson said.

Peterson will replace Jeremy E. Hollander, who has served as acting director since January following the departure of Elizabeth M. Harris. Hollander will return to his previous position as deputy director of the division’s Office of Consumer Protection.