New York S5724-A reduces judgment rate on consumer debts to 2%

January 06, 2022

Consumer Finance Monitor - Christopher J. Willis

On December 31, 2021, New York Governor Hochul signed into law S5724-A which reduces the annual rate of interest on judgments arising out of a consumer debt where the defendant is a natural person from 9% to 2% effective April 30, 2022.

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