Statement by Mindy A. Bockstein, Chairperson and Executive Director of the NYS Consumer Protection Board

“Low Consumer Confidence Necessitates Stretching Dollars and Advocacy”

In light of today’s announcement that, according to the latest poll by the Siena (College) Research Institute (SRI), New York State consumer confidence decreased 3.1 points in June, while the nation’s confidence also decreased by 3.1 points, the New York State Consumer Protection Board (CPB) is reminding consumers of our Stretch Your Dollars Effort (SYDE), designed to assist people by providing money-saving tips, available at www.nysconsumer.gov.

With more than 70% of New Yorkers saying that current gasoline and food prices are having a serious impact on their financial condition, and as part of Governor Paterson’s economic well-being initiative, the CPB is updating our online dollar-saving tips, including tips we have received from the public.

SYDE, first launched in June, provides consumers with an opportunity to share their coping strategies with others by e-mailing or sending a written, audio or video tip to the CPB. Consumers are encouraged to log on to the CPB’s website to read or view the accumulated tips, and to submit their own to my2cents@consumer.state.ny.us. The site is updated as we receive additional consumer tips.

We are also reminding consumers that our Toll-Free Consumer Hotline (800-697-1220) is available for consumers who need assistance or have marketplace complaints. Last quarter, the hotline received more than 13,000 calls for assistance and information, and in 2007, the CPB was able to save consumers more than $1.3 million as a result of our intervention on their behalf.

The NYS CPB, established in 1970 by the New York State Legislature, is the State's top consumer watchdog and think tank. The CPB's core mission is to protect New Yorkers by publicizing unscrupulous and questionable business practices and product recalls; conducting investigations and hearings; enforcing the “Do Not Call” law; researching issues; developing legislation; creating consumer education programs and materials; responding to individual marketplace complaints by securing voluntary agreements; and, representing the interests of consumers before the Public Service Commission and other State and federal agencies.