The New York State Senate today passed a package of legislative measures aimed at curbing costly fees and frustrating surcharges. Making everyday financial interactions simpler and more transparent is central to this initiative, as is putting an end to the practice of "nickel and diming" New York consumers, according to the Senate Democratic Majority. Read the Senate Majority press release.
Senate Majority Leader Andrea Stewart-Cousins said, “As the New York State Senate Majority Leader, I am immensely proud of the legislative package we've advanced today. This is a comprehensive strategy aimed at alleviating the financial strain on New Yorkers. By tackling a wide array of unnecessary and burdensome fees, we are taking concrete steps to ensure that the hard-working residents of our state keep more of their money where it belongs - in their pockets. Our approach is clear: enhancing affordability, promoting transparency, and safeguarding consumer rights are paramount to fostering a more economically secure and prosperous New York for all. I thank the bill sponsors for their dedicated efforts in safeguarding the financial interests of New Yorkers.”
Bill sponsor and Deputy Leader Senator Michael Gianaris said, “Junk fees hurt consumers and undermine competition. My proposal would make New York a national leader in taking bold steps to protect people from these deceptive fees. Junk fees often harm the most vulnerable communities, and by requiring transparent pricing we would create a more equitable economy for all.”