New York Takes a Stand Against Scams, Junk Fees, and Predatory Lenders – Here’s What It Means for You

 

New York Takes a Stand Against Scams, Junk Fees, and Predatory Lenders – Here’s What It Means for You

For too long, corporations have taken advantage of everyday consumers and small businesses through deceptive practices, hidden fees, and impossible-to-cancel subscriptions. While hardworking people struggle to make ends meet, some companies have built entire business models around exploiting loopholes in outdated laws.

But New York is fighting back.

Attorney General Letitia James has introduced the FAIR Business Practices Act, a groundbreaking piece of legislation designed to protect consumers, crack down on predatory business practices, and restore financial integrity in New York. This act could change the way businesses operate—ensuring that they play fair and stop exploiting the most vulnerable.

What’s the Problem?

The unfortunate truth is that New York’s current consumer protection laws are outdated. While 42 other states have strong protections against unfair and abusive business practices, New York’s existing laws only prohibit deceptive practices—leaving massive gaps that companies have exploited for decades.

As a result, consumers and small businesses have been left defenseless against:

• Junk fees added onto purchases, loans, and subscriptions.

• Predatory lenders steering borrowers into high-cost repayment plans.

• Debt collectors wrongfully taking Social Security benefits from seniors.

• AI-powered scams tricking people into financial traps.

• Nursing homes suing families over bills they don’t even owe.

This is downright predatory. They impact everyone, from low-income families to small business owners, seniors, and immigrants—groups that are especially vulnerable. But now, the FAIR Business Practices Act promises to change all of that.

What Does the FAIR Business Practices Act Do?

The FAIR Business Practices Act strengthens New York's consumer protection laws and targets the worst offenders in the marketplace. Here's what it does to protect YOU:

1. Ends Subscription Traps: Say goodbye to the companies that make it almost impossible to cancel subscriptions. If a company makes it hard to stop paying for a service, this bill gives you the power to fight back.

2. Cracks Down on Predatory Lending: Whether it’s auto loans, mortgages, or student loans, this legislation prevents lenders from steering you into high-cost loans and repayment plans that benefit them but harm you.

3. Stops Unfair Billing Practices: Health insurance providers and other companies that charge you hidden fees or refuse to honor what they promised will be held accountable.

4. Protects Vulnerable Communities: This law empowers the Attorney General to go after businesses that exploit people with limited English proficiency or take advantage of senior citizens and others who are easily targeted by deceitful practices.

5. Fights Against Data Breaches and Online Scams: With the rise of AI-based scams and online phishing schemes, this bill gives New Yorkers the protection they need in today’s digital world.

6. Restores Consumer Rights: It also strengthens your right to seek civil penalties and restitution if you’ve been wronged by these businesses. Whether you’re an individual or a small business, this law gives you the tools to take action.

Why Does This Matter?

The FAIR Business Practices Act doesn’t just protect consumers—it restores integrity in business practices across New York. With federal protections being weakened or outright dismantled, New York is taking the lead in ensuring that everyone has a fair shot at financial freedom.

Attorney General Letitia James emphasizes, "At a time when the federal government is making life harder, we want to make life easier for New Yorkers." This new law ensures that no matter what happens on the federal level, New Yorkers will have the protections they need at home.

What’s at Stake?

We’re at a tipping point. As predatory lenders and deceptive businesses continue to push the limits of the law, too many New Yorkers are left vulnerable to scams, overcharging, and financial ruin. But with the FAIR Business Practices Act, New York is standing up to these abuses.

If you've ever been trapped by a subscription you couldn't cancel, hit with a surprise fee, or pressured into a loan that wasn't right for you, this law is your chance to fight back.

What Happens Next?

The FAIR Business Practices Act has already been introduced in the State Senate and Assembly, and Attorney General James is pushing hard to get it signed into law. But the fight isn’t over—your voice matters. As New Yorkers, we must rally behind this bill to ensure it passes and holds businesses accountable for their actions.

You Deserve Better.

As consumers, we shouldn’t have to live in fear of hidden fees, deceptive marketing, or unethical business practices. With the FAIR Business Practices Act, we have the opportunity to change the game and restore fairness in the marketplace. But we can’t do it alone. We need your support to make this a reality.

How Can You Get Involved?

• Stay informed: Learn more about the bill and how it will protect you.

• Spread the word: Share this blog, talk to your neighbors, and spread awareness.

• Take action: Contact your local representatives and voice your support for the FAIR Business Practices Act.

Let’s protect New Yorkers from unfair business practices once and for all. Together, we can build a stronger, fairer economy—where businesses play by the rules, and consumers are in control.

It’s time for change. It’s time to protect your rights.

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