Mario Fitzgerald, senior staff attorney at Legal Services NYC. (Courtesy photo) With Federal Consumer Protections Under Threat, New Yorkers Would Benefit From a Ban on Unfair and Abusive Business Practices
If the Supreme Court weakens the efficacy of federal agencies, New York would be well served to have strong laws on the books to hold bad actors accountable, a guest columnist for the Law Journal writes.
April 09, 2024 at 01:15 AM
4 minute read
Right now, when New York consumers and small business owners are harmed by unfair or abusive business practices, they have no protections under state law to hold unethical businesses accountable. They must instead rely on federal agencies, such as the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC) and the Securities and Exchange Commission (SEC), which have the power to help victims vindicate their rights. But the U.S. Supreme Court may soon strip these agencies of this power, leaving vulnerable New Yorkers, disproportionately in communities of color, with nowhere to turn.
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