Joint Public Hearing: Current Patterns in White-Collar Crime and Fraud, and Possible Updates to Laws Protecting New Yorkers and Markets

Joint – Senate Standing Committee on Codes
Chair: Senator Zellnor Myrie
and Senate Standing Committee on Consumer Protection
Chair: Senator Rachel May
Public Hearing: Current Patterns in White-Collar Crime and Fraud, and Possible
Updates to Laws Protecting New Yorkers and Markets
Place: Van Buren Hearing Room A, Legislative Office Building,
2nd Floor, Albany, NY
Time: 9:30 A.M.
Contact: Cody Cooper (518) 455-2410 (Sen. Myrie);
Amy Gunnells (518) 455-2328 (Sen. May)
Media Contact: Matt Baer (202) 255-9799 (Sen. Myrie);
Daniel Messineo (315) 478-8745 (Sen. May)
ORAL TESTIMONY BY INVITATION ONLY

NOTICE OF PUBLIC HEARING

SUBJECT: New York’s criminal and civil fraud statutes, practices, and impacts on consumers, workers, and businesses. 

PURPOSE: To investigate current fraud patterns and practices in areas — including but not limited to — wage theft, foreclosure and mortgages, virtual currencies and digital assets, consumer goods, and student loans. The hearing will also examine various legislative proposals and solutions aimed at establishing protections for New Yorkers from fraudulent and predatory practices. 

Wednesday
March 4, 2026
9:30A.M.
Hearing Room A
Legislative Office Building
Albany, New York 12248
ORAL TESTIMONY BY INVITATION ONLY

New Yorkers pay the price for white-collar crime every day. Schemes to defraud vulnerable and working-class New Yorkers cost the economy hundreds of millions of dollars annually, and while scammers have devised new ways to rip off consumers, workers, businesses, and the public at large, the laws designed to protect members of the public and our financial markets have lagged behind. To maintain New York's status as both the financial capital of the world and a center for opportunity and innovation, State law must equip the justice system to hold bad actors accountable, provide relief for victims, and provide stability and predictability in emerging economies, including virtual currency. In this hearing, the Committees seek testimony from experts and the public on current fraud and exploitation patterns and trends, feedback on pending legislation to strengthen protections against financial crime, white-collar theft, and scams, and new proposals in this space.

Persons wishing to present pertinent testimony to the Codes and Consumer Protection Committees at the above hearing should complete and return the enclosed reply form as soon as possible. It is important that the reply form be fully completed and returned so that persons may be notified in the event of emergency postponement or cancellation.

Oral testimony will be limited to 5 minutes duration. Ten copies of any prepared testimony should be submitted at the hearing registration desk. The Codes and Consumer Protection Committees would appreciate advance receipt of prepared statements.

Attendees and participants at any legislative public hearing should be aware that these proceedings are video recorded. Their likenesses may be included in any video coverage shown on television or the internet.

In order to meet the needs of those who may have a disability, the Codes and Consumer Protection Committees, in accordance with the Senate’s policy of non-discrimination on the basis of disability, as well as the 1990 Americans with Disabilities Act (ADA), has made its facilities and services available to all individuals with disabilities. For individuals with disabilities, accommodations will be provided, upon reasonable request, to afford such individuals access and admission to State Legislature facilities and activities.

Senator Zellnor Myrie
Chair, Committee on Codes
Senator Rachael May
Chair, Committee on Consumer Protection