NY S00677 | 2011-2012 | General Assembly
Status
Spectrum: Partisan Bill (Democrat 6-0)
Status: Introduced on January 5 2011 - 25% progression, died in chamber
Action: 2012-02-06 - AMENDED BY RESTORING TO PREVIOUS PRINT 677A
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 5 2011 - 25% progression, died in chamber
Action: 2012-02-06 - AMENDED BY RESTORING TO PREVIOUS PRINT 677A
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
| Sen. Jose Peralta [D] | Sen. Joseph Addabbo [D] | Sen. Tony Avella [D] | Sen. Ruth Hassell-Thompson [D] |
| Sen. Liz Krueger [D] | Sen. Kevin Parker [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2012-02-06 | Senate | AMENDED BY RESTORING TO PREVIOUS PRINT 677A |
| 2012-01-24 | Senate | PRINT NUMBER 677B |
| 2012-01-24 | Senate | AMEND (T) AND RECOMMIT TO JUDICIARY |
| 2012-01-04 | Senate | REFERRED TO JUDICIARY |
| 2011-12-16 | Senate | PRINT NUMBER 677A |
| 2011-12-16 | Senate | AMEND AND RECOMMIT TO JUDICIARY |
| 2011-03-08 | Senate | COMMITTEE DISCHARGED AND COMMITTED TO JUDICIARY |
| 2011-01-05 | Senate | REFERRED TO CODES |
Same As/Similar To
A00633 (Same As) 2012-05-24 - advanced to third reading cal.617
