Consumer Protection Act Reform: H.B. 2008/S.B. 1522 (2011)
Amends the Tennessee Consumer Protection Act (“TCPA”) as follows: eliminates
Amends the Tennessee Consumer Protection Act (“TCPA”) as follows: eliminates a private right of action for actions based on the sale or marketing of securities, since those claims are governed by state and federal securities laws; provides that only the Attorney General may pursue actions under the “catchall provision” of the TCPA on behalf of Tennessee consumers; prohibits the award of punitive damages for an unfair or deceptive act or practice if the judge awards treble damages and attorney fees; and prohibits class actions from being brought under the consumer fraud statute and makes other changes to the consumer fraud statute.
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