Attorney General James, Senator Comrie, and Assemblymember Lasher Celebrate Signing of Historic Consumer Protection Law

NEW YORK – New York Attorney General Letitia James, Senator Leroy Comrie, and Assemblymember Micah Lasher today applauded Governor Kathy Hochul’s signing of the Fostering Affordability and Integrity through Reasonable Business Practices (FAIR Business Practices) Act. The legislation, introduced by Attorney General James and sponsored by Senator Comrie and Assemblymember Lasher, updates New York’s primary consumer protection law, GBL §349, for the first time in 45 years. The new law protects New Yorkers from unfair, abusive, and deceptive business practices. 

“The FAIR Business Practices Act will help us tackle rising costs and protect working families and small businesses,” said Attorney General James. “I am proud to have worked alongside Senator Comrie and Assemblymember Lasher to update our most important consumer protection law for the first time in 45 years to stop predatory lenders, abusive debt collectors, dishonest mortgage servicers, and so much more. At a time when the federal government is abandoning working people and raising the cost of living, this law will help us stop companies from taking advantage of New Yorkers. I thank Governor Hochul, Senate Majority Leader Stewart-Cousins, and Assembly Speaker Heastie for their leadership and look forward to working together to make our state more affordable.”

“I commend the Governor and Attorney General James for advancing the FAIR Business Practices Act, a critical statutory modernization of the state’s business climate, and ensuring fairness endures throughout the 21st century,” said Senator Leroy Comrie. “Far too many consumers and small businesses across New York state have faced deceptive financing schemes, abusive contract terms, and predatory practices that have spiraled individuals and smaller businesses into insolvency and legal battles they often cannot afford. With this bill becoming law, that ends today. This legislation codifies case law that maintains transactional safety and provides the enforcement tools to hold bad actors accountable so we may all strive towards a good faith business climate. I look forward to continuing our work with Attorney General James, our economic development partners, and businesses of all sizes to ensure that New York remains a place where markets, lending, and all other transactions remain fair.”

“Today is a victory for every New York consumer. With Governor Hochul's signature, the FAIR Business Practices Act becomes law in New York, and we are sending an unmistakable message: while the Trump administration abandons working families, New York will stand up and fight back,” said Assemblymember Micah Lasher. “For too long, our state has had one of the weakest consumer protection laws in the country — and that ends today. Now, Attorney General James will have far stronger legal tools to go after the unfair and abusive practices that drain billions from hardworking New Yorkers every single year. Consumer protection is affordability, plain and simple. When we stop companies from cheating people, families keep more of what they earn and can spend it on what they actually need. I am deeply grateful to Governor Hochul for her leadership, to Attorney General James for her tireless advocacy, and to Senator Comrie for his partnership in this fight.”

The FAIR Business Practices Act passed the State Legislature in June 2025. The legislation will help stop a range of unscrupulous business practices that cost New Yorkers more money, such as lenders, including auto lenders, mortgage servicers, and student loan servicers, that deceptively steer borrowers into higher cost loans. The new law will also reduce unnecessary and hidden fees, stop unfair billing practices by health care companies, and prevent companies from taking advantage of New Yorkers with limited English proficiency. 

New York’s current consumer protection law, GBL §349, was passed in 1970 and, unlike 41 other states' laws, only prohibited deceptive business acts and practices, leaving New Yorkers vulnerable to a broad array of exploitative acts by companies. The FAIR Business Practices Act will bring New York in line with the vast majority of other states by protecting New Yorkers from unfair and abusive business acts, such as: 

• Student loan servicers that steer borrowers into the most expensive repayment plans;
• Car dealers that refuse to return a customer’s photo ID until a deal is finalized and charge for add-on warranties that the customer did not actually purchase;
• Nursing homes that routinely sue relatives of deceased residents for their unpaid bills despite not having any basis for liability;
• Companies that take advantage of consumers with limited English proficiency and obscure pricing information and fees;
• Debt collectors that collect and refuse to return a senior’s Social Security benefits, even though those benefits are exempt from debt collection; and
• Health insurance companies that present customers with long lists of in-network doctors who, in reality, do not accept the insurance. 

With the federal government rolling back protections for consumers and small businesses, the FAIR Business Practices Act authorizes the Office of the Attorney General (OAG) to protect vulnerable New Yorkers from exploitative practices.