New York Senate Bill 1277 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 9 2015 - 25% progression, died in committee
Action: 2016-01-12 - PRINT NUMBER 1277A
Pending: Senate Judiciary Committee
Text: Latest bill text (Amended) [HTML]

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.

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.

Sen. Jose Peralta [D]

Date	Chamber	Action
2016-01-12	Senate	PRINT NUMBER 1277A
2016-01-12	Senate	AMEND AND RECOMMIT TO JUDICIARY
2016-01-06	Senate	REFERRED TO JUDICIARY
2015-01-09	Senate	REFERRED TO JUDICIARY

Type	Source
Summary	https://assembly.state.ny.us/leg/?default_fld=&bn=S01277&term=2015&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y
Text	https://assembly.state.ny.us/leg/?default_fld=&bn=S01277&term=2015&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S01277
Text	https://assembly.state.ny.us/leg/?default_fld=&bn=S01277&term=2015&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S01277A