James, Comrie, Lasher Applaud Hochul’s Signature on FAIR Act

New York Attorney General Letitia James, Senator Leroy Comrie, and Assemblymember Micah Lasher today celebrated Governor Kathy Hochul’s signing of the Fostering Affordability and Integrity through Reasonable Business Practices (FAIR Business Practices) Act. This landmark legislation marks the first major update to New York’s primary consumer protection law, GBL §349, in 45 years.

The FAIR Business Practices Act aims to protect New Yorkers from unfair and deceptive business practices by stopping predatory lenders, abusive debt collectors, and dishonest mortgage servicers. Attorney General James emphasized the importance of this bill, stating, ‘This will help us tackle rising costs and protect working families and small businesses.’

Senator Comrie praised the Governor’s decision to sign the act, highlighting its significance in modernizing the state’s business climate. He noted, ‘With this bill becoming law, consumers and small businesses are no longer at the mercy of deceptive financing schemes and predatory practices.’

Assemblymember Lasher echoed these sentiments, emphasizing that consumer protection is affordability. ‘When we stop companies from cheating people, families keep more of what they earn,’ he said.

The FAIR Business Practices Act was passed by the State Legislature in June 2025. It will provide Attorney General James with stronger legal tools to combat unfair and abusive practices that have been draining billions from hardworking New Yorkers for years.

This historic signing represents a significant victory for New York consumers, sending a clear message that while other states may turn their backs on working families, New York will stand up and fight back.