New York's Attorney General Tish James has introduced the FAIR Business Practices Act aimed at enhancing consumer protections against unfair business practices. Critics, including local business groups, argue that the legislation could lead to an increase in frivolous lawsuits and legal harassment for small businesses, as it allegedly removes essential legal safeguards. Proponents highlight its goal to target deceptive practices in various sectors, including AI schemes and predatory loan services. However, concern persists that these improvements could burden businesses with excessive legal costs, potentially harming the state's economy.
The so-called FAIR Act would be anything but fair to New York's business community, especially Main Street businesses, stripping away long standing legal safeguards and due process protections.
The bill would specifically authorize profit-motivated law firms to send letters demanding pre-suit settlements for damages and fees, leading to a cottage industry of legal shakedowns.
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