N.Y. General Business Law § 458-a: Legislative findings and declarations; purposes

§ 458-a. Legislative findings and declarations; purposes. The

legislature finds and declares:

1. The ability to obtain and use credit has become of great importance

to consumers, who have a vital interest in establishing and maintaining

their credit worthiness and credit standing. As a result, consumers who

have experienced credit problems may seek assistance from credit

services businesses which offer to improve the credit standing of such

consumers.

Certain advertising and business practices of some companies engaged

in the business of credit services have worked a financial hardship upon

the people of this state, often those who are of limited economic means

and inexperienced in credit matters.

2. The purposes of this article are to provide prospective consumers

of services of credit services companies with the information necessary

to make an informed decision regarding the purchase of those services

and to protect the public from unfair or deceptive advertising and

business practices.