NY lawmakers consider senior consumer protection legislation

New York lawmakers are considering bills aimed at protecting seniors from financial harm. AARP data shows older New Yorkers lost more than $400 million to scams in 2025, with losses rising compared with prior years. The CRYPTO Act would slow down cryptocurrency purchases to reduce scam opportunities. Criminals are described as using cryptocurrency machines and bank accounts to get older adults to deposit money or use accounts to buy crypto, sending funds to criminals’ accounts. Federal Trade Commission data indicates scams are three times more likely to affect people over 60. Other bills target predatory pricing by banning online surveillance pricing and discriminatory pricing in grocery stores and pharmacies, which can exploit older adults’ purchasing patterns. The bills have broad support and are under review with limited time remaining in the legislative session.

"“When someone goes online and purchases something, get their groceries or buy products online delivered to them at their houses which a lot of older persons do because they can't get out as much some of these companies are using those purchasing patterns and charging more for that product,” Ferris pointed out. The One Fair Price Act would ban online surveillance pricing, while the Protecting Consumers and Jobs from Discriminatory Pricing Act would ban the practice in grocery stores and pharmacies."

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