Calling it a much-needed update to New York's consumer protection laws, Attorney General Letitia James is pushing for the FAIR Business Practices Act. If enacted, this legislation would fortify New Yorkers against a spectrum of abusive practices from predatory lending to invasive data breaches. New York's own GBL §349 consumer protection law is deemed out of step when compared to forty-two other states and the standards set at the federal level, reported the Office of the Attorney General.
In the face of what she describes as federal inaction, James points to the need for local governance to safeguard hardworking families and local enterprises. "As the federal government steps back from protecting consumers and small businesses, New York must step up to help working families and Main Street businesses," said James, who eagerly anticipates collaborating with state legislators to pass the bill. Senator Leroy Comrie and Assemblymember Micah Lasher have already laid the groundwork by sponsoring the legislation, according to the statement from the Attorney General's Office.
The bill doesn't just take a swipe at predatory lending; its scope extends to other sectors as well. Misleading auto loans, mortgage servicing, and student loan servicing are all in the crosshairs with an intent to cap hidden fees and squash unfair billing practices in healthcare. Moreover, the bill equips both the Office of the Attorney General and victims with the legal authority to claim civil penalties and seek restitution against businesses engaging in deceptive tactics—particularly those preying on the state's non-English speaking citizens—echoed through the legislative support espoused by Comrie, "New Yorkers deserve to be treated fairly, and this legislation helps ensure that."
Highlighting the bill's urgencies, Comrie and Lasher have criticized the federal government's approach to consumer protection, singling out Donald Trump and Elon Musk for their roles in eroding existing safeguards. "The time to act is now," Lasher underscored, emphasizing the importance of empowering the Attorney General to defend New Yorkers, particularly from the high costs spawned by unfair business practices. The statewide response has been largely favorable, with unions and consumer advocacy groups backing the FAIR Business Practices Act. "It is an honor to stand together in this fight," added Lasher in a statement obtained by the Office of the Attorney General press release.
Supporters such as Mario Cilento, President of the New York State AFL-CIO, and Henry Garrido, Executive Director of AFSCME DC37, have praised the Attorney General's leadership in addressing the federal rollback of consumer protections. AARP New York, represented by Kristen McManus, has also joined the chorus, highlighting a rise in scam-related losses among older adults in the state. With the specter of federal regulatory bodies being weakened, the bill represents a broad coalition's effort to modernize New York's consumer protection laws to guard its residents against a complex maze of financial threats and scams, reported advocates in support of the legislation.
