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We're pleased to announce the upcoming release of a new episode of the Consumer Finance Monitor Podcast, dropping Thursday, February 12 — just days before New York's landmark FAIR Business Practices Act takes effect on February 17.
In this timely episode, we take a deep dive into what is widely viewed as the most significant overhaul of New York's consumer protection statute in nearly fifty years. The FAIR Act dramatically expands the State's authority to challenge unfair and abusive business practices, reshaping the compliance and enforcement landscape for companies doing business with New Yorkers.
We were honored to be joined by Jane Azia, Chief of the Bureau of Consumer Frauds and Protection, and Alec Webley, Assistant Attorney General in the Bureau — two of the key architects and enforcers of the FAIR Act. This conversation with our host, Alan Kaplinsky (founder and former leader of our Consumer Financial Services Group for 25 years) marks the first public outreach by the New York Attorney General's Consumer Frauds and Protection Bureau explaining some of the FAIR Act's applications in practice.
Among other topics, we discuss:
- How the FAIR Act expands New York's consumer protection law beyond deception to include unfair and abusive conduct
- The growing role of the New York Attorney General in filling the enforcement void left by the CFPB's pullback from investigations and litigation. This includes the AG's prosecution of lawsuits dropped by the CFPB.
- Why companies — including banks and fintechs — do not need a physical presence in New York to fall within the AG's enforcement jurisdiction
- What this new enforcement regime means for consumers, financial institutions, and businesses nationwide
If your organization does business with New York consumers — or is watching the evolving balance between state and federal consumer protection enforcement — this is an episode you won't want to miss. Our podcast show is available on this blog, our firm website (www.ballardspahr.com) and all other major podcast platforms.
Available Thursday, February 12. Mark your calendar.
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