Consumer Protection Act Reform: H.B. 1742 (2017)
Amends the Arkansas Deceptive Trade Practices Act and provides that
Amends the Arkansas Deceptive Trade Practices Act and provides that a person must prove that a deceptive act or practice caused him to enter into a transaction that resulted in a loss in order be awarded damages. Further, the bill defines “actual financial loss” as an ascertainable amount of money that is equal to the difference between the amount paid by a person for goods or services and the actual market value of the good or services provided. Finally, the legislation prohibits class actions from being brought under the DTPA except for violations of the Amendment 89 to the Arkansas Constitution which pertains to the maximum interest rate lenders may charge.
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