James, Comrie, Lasher Hail FAIR Act as New York’s Consumer Shield

New York’s Attorney General Letitia James, Senator Leroy Comrie, and Assemblymember Micah Lasher stood united today as Governor Kathy Hochul inked the Fostering Affordability and Integrity through Reasonable Business Practices (FAIR) Act into law. This landmark legislation overhauls New York’s primary consumer protection statute, GBL §349, which had not been updated in 45 years.

The FAIR Business Practices Act is a cornerstone of the state’s commitment to protect consumers and small businesses from unfair lending practices, abusive debt collectors, and dishonest mortgage servicers. Attorney General James hailed the bill as a critical step in tackling the rising costs that squeeze working families and small enterprises.

“This law will be our shield against predatory lenders and those who seek to exploit New Yorkers,” James declared. “It’s about fairness, affordability, and ensuring our state remains an oasis of integrity amidst the rising tide of cost-of-living crises.”

Senator Comrie echoed James’ sentiments, emphasizing the bill’s role in codifying case law for transactional safety and holding wrongdoers accountable. “We’re not just updating a law; we’re ensuring New York remains a place where markets are fair and all transactions are above board,” Comrie said.

Assemblymember Lasher cited the FAIR Act as a triumph for consumers, noting its potential to keep more hard-earned dollars in the pockets of New Yorkers. “Consumer protection isn’t just about preventing fraud—it’s about giving families the freedom to live their lives without fear of financial shenanigans,” Lasher explained.

Passed by the State Legislature in June 2025, the FAIR Business Practices Act marks a significant shift towards curbing unscrupulous business practices and ensuring that New York’s markets continue to thrive under the weight of ethical standards.

RELATED: NY AG James’ FAIR Act Protects Consumers, Small Biz