Bill > S02895

This bill requires private arbitration organizations involved in 50 or more consumer arbitrations per year to collect, publish, and make publicly available detailed information about those arbitrations, including the name of the non-consumer party, the consumer's location, the type of dispute, and the outcome. It also prohibits these arbitration organizations from having any financial conflicts of interest with the parties or their attorneys. The bill gives the New York Attorney General the authority to seek injunctions and impose civil penalties for violations, and allows individual consumers to bring their own lawsuits for violations. The bill will take effect 180 days after becoming law.