CPLR § 5004 – Amended; Statutory Rate of Interest Reduced for Certain Judgments
New York Consolidated Laws, Civil Practice Law and Rules (“CPLR”) Section 5004 – Rate of interest, has been amended. Effective April 30, 2022 (the “Effective Date”), the interest rate applicable to money judgments arising from actions involving consumer debt where the defendant is a natural person will be calculated at the rate of two percent (2%) per annum, except where otherwise provided by statute. All other money judgments will retain the existing statutory rate of interest of nine per percent (9%) per annum, of course, except where otherwise provided by statute. CPLR § 5004 was amended to read as follows: Interest shall...
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