NEW YORK—New state legislation would protect consumers from scams, predatory loans, and other abusive business practices, according to New York Attorney General Letitia James.
At an announcement with Assemblyman Micah Lasher and the support of state Sen. Leroy Comrie on March 13, James said the FAIR Business Practices Act would help the state protect New Yorkers from harmful business practices in the absence of protection from the federal government.
James said the state legislation would address actions such as predatory lenders selling overpriced and high interest loans to small businesses, student loan servicers that steer borrowers into expensive payment plans, nursing homes that unfairly sue deceased family members, and companies that make it hard for consumers to cancel a subscription….