This bill amends the Truth-in-Consumer Contract, Warranty and Notice Act (TCCWNA) to establish new requirements for consumers seeking to initiate class-action lawsuits for violations of the Act. Specifically, it mandates that consumers must demonstrate an ascertainable economic loss to qualify for class certification. Additionally, for consumers who experience an economic loss of $250 or less, the bill requires them to first request reimbursement from the responsible party before filing a legal action. This request must be made in writing and sent via certified and regular mail, with a waiting period of 35 days after mailing before any legal action can commence.

Furthermore, the bill outlines provisions for actions brought as counterclaims. If a consumer asserts a counterclaim, they can satisfy the reimbursement request requirement by stating the nature of the counterclaim and the amount of economic loss in their pleading. The opposing party may then choose to tender the claimed loss amount to the court or attorney to be held in escrow, which would prevent the awarding of attorney's fees if the consumer's counterclaim is successful. Overall, the bill aims to streamline the process for addressing consumer grievances while ensuring that only those with verifiable economic losses can pursue class-action claims under the TCCWNA.

Statutes affected:
Introduced: 56:12-17