A bill to reform the state Consumer Fraud Act has been introduced.
Sen. Jeff Van Drew, (D-1), Cape May, introduced a bill Thursday that, among other things, would give judges discretion in awarding damages and limit attorneys’ fees in such cases.
The bill, S2855, is a companion to an Assembly measure, A3333, which was introduced by, among others, John McKeon, (D-27), South Orange; Ralph Caputo, (D-28), Belleville; and Domenick DiCicco Jr., (R-4), Sewell.
According to the bill, under current law, a judge in a consumer fraud case is required to award threefold damages. This measure would give judges discretion in awarding damages, but they would not be permitted to exceed the threefold limit.
The bill would limit attorneys’ fees and costs to the greater of $150,000 or one-third of the judgment.
The Assembly bill was introduced last fall and was referred to the Consumer Affairs Committee.