Bill Texts: NY S00677 | 2011-2012 | General Assembly
Bill 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.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Introduced - Dead) 2012-02-06 - AMENDED BY RESTORING TO PREVIOUS PRINT 677A [S00677 Detail]
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Introduced - Dead) 2012-02-06 - AMENDED BY RESTORING TO PREVIOUS PRINT 677A [S00677 Detail]
Bill Drafts
Revision | Date | Format | Source | View |
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Introduced | 2011-05-24 | HTML/Text | Link | View |
Amended | 1969-12-31 | HTML/Text | Link | View |
Amended | 1969-12-31 | HTML/Text | Link | View |
Amendments
Amendment | Date | Disposition | Format | Source | View |
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No bill amendments currently on file for New York S00677 |
Supplemental Documents
Title | Description | Date | Format | Source | View |
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No supplemental documents for New York S00677 currently on file. |