NY A09206 | 2011-2012 | General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 3 2012 - 25% progression, died in chamber
Action: 2012-02-29 - enacting clause stricken
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 3 2012 - 25% progression, died in chamber
Action: 2012-02-29 - enacting clause stricken
Text: Latest bill text (Introduced) [HTML]
Summary
Enacts the "consumer credit fairness act"; establishes a 3 year statute of limitations for commencement of a cause of action arising out of a consumer credit transaction where the defendant is a purchaser, borrower or debtor; establishes a notice of lawsuit which must be mailed to the defendant in such a cause of action; establishes certain requirements for the complaint in such an action; provides for arbitration of such actions; requires debt collectors to send consumers a written notice of their rights under state law along with their initial debt collection correspondence; such notice would contain information such as who and when a principal creditor may contact a debtor about the debt owed as well as the fact that a principal creditor cannot disclose information affecting a consumer debtor's reputation for creditworthiness if the principal creditor knows or has reason to know such information is false; applies to consumer rather than commercial debts.
Title
Enacts the "consumer credit fairness act"; establishes a 3 year statute of limitations for commencement of a cause of action arising out of a consumer credit transaction where the defendant is a purchaser, borrower or debtor; establishes a notice of lawsuit which must be mailed to the defendant in such a cause of action; establishes certain requirements for the complaint in such an action; provides for arbitration of such actions; requires debt collectors to send consumers a written notice of their rights under state law along with their initial debt collection correspondence; such notice would contain information such as who and when a principal creditor may contact a debtor about the debt owed as well as the fact that a principal creditor cannot disclose information affecting a consumer debtor's reputation for creditworthiness if the principal creditor knows or has reason to know such information is false; applies to consumer rather than commercial debts.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2012-02-29 | Assembly | enacting clause stricken |
2012-02-03 | Assembly | referred to judiciary |
Same As/Similar To
S00677 (Same As) 2012-02-06 - AMENDED BY RESTORING TO PREVIOUS PRINT 677A