Assembly Approves Consumer Credit Fairness Act

ALBANY -

A bill that would grant greater protection from overly aggressive debt-collection practices passed the state Assembly Monday, and now heads to the Senate.

The Consumer Credit Fairness Act would curb abusive debt collection lawsuits by requiring notice of a pending credit action be mailed to the defendants by the clerk of the court; requiring court filings to include more information about the debt; and reducing the statute of limitations for consumer credit transactions from six years to three.