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S08959 Summary:
| BILL NO | S08959A |
| SAME AS | SAME AS A01752-A |
| SPONSOR | FELDER |
| COSPNSR | AVELLA, SEPULVEDA |
| MLTSPNSR | |
| Amd §§213, 3012 & 3215, RR3016 & 3211, add §§214-g, 306-d & 7516, CPLR | |
| 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. | |