New York Attorney General Letitia James today proposed rules to protect consumers and small businesses from corporate profiteering. These rules will not only protect consumers and small businesses from being taken advantage of, but they will also help to ensure that essential goods and services are affordable for all New Yorkers.
“Soaring costs of essentials have pushed hardworking New Yorkers to the brink and forced hard decisions around kitchen tables,” said Attorney General James. “The rules proposed by my office will bolster our efforts to crack down on price gouging and ensure that large corporations do not take advantage of New Yorkers during difficult times. When times get tough, New Yorkers can trust that my office will always have their back.”
New York State has enacted a law that prohibits companies from price gouging during market disruptions. This law applies to all companies throughout the supply chain, from manufacturers to retailers. It is designed to protect consumers from being exploited during a time of crisis.
Related: NY AG Warns Of Price Gouging After Biden Ban On Russian Oil
“Price gouging during an emergency is a shameful and illegal practice, and far too many New Yorkers have suffered from corporate greed during the pandemic and other natural disasters,” said State Senator Brad Hoylman-Sigal. “I’m proud to have passed legislation in 2020 to strengthen our price gouging statute by giving the New York Attorney General the power to directly take on the gougers and protect New York consumers through the rule-making process. I commend Attorney General James for proposing a set of rules to keep our consumers and small businesses safe from exploitation.”
This law applies to all businesses in the supply chain, from manufacturers to retailers.
