Consumer Class Action Act

Consumer Class Action Act - Defines "unfair consumer practice" for the purposes of this Act. Includes therein misleading and deceiving representations made in connection with the sale, lease, rental or loan (or offers therefor) of goods, services or credit to consumers or the collection of debts from consumers. Enumerates specific types of conduct embraced by the term "unfair consumer practice", including those so defined under the decisions interpreting the Federal Trade Commission Act. Excludes from the definition of "goods", securities or interests in securities or aircraft. Includes in the definition of "services", insurance services. Provides that the term "consumer" shall be limited to natural persons.

Makes unlawful any unfair consumer practice committed by anyone whose business affects commerce, or whose violation of this Act affects commerce.

Grants United States district courts original jurisdiction (concurrent with that of the courts of the several States) over civil class actions brought by a consumer on behalf of himself and others similarly situated.

Makes Rule 23 of the Federal Rules of Civil Procedure, applicable to such class action. Provides that the amount in controversy shall exceed $25,000, but permits aggregation of individual claims (none of which shall be less than $10) in computing such amount. Includes among the types of relief the court may grant to a prevailing class: injunctions; declaratory judgments; actual damages; and costs and reasonable attorney's fees.

States that when the class seeks relief under State law, and brings the action in a Federal court, the law of the State shall be the law of the forum. Prohibits removal of a class action from a State to a Federal court when relief is sought under State law.

Prohibits the court from awarding monetary relief if: (1) the plaintiff informs the defendant of the nature of the unfair consumer practice complained of (which the plaintiff must do at least 35 days prior to instituting suit); (2) appropriate corrective action is initiated by the defendant with respect to all identifiable members of the class within 30 days after the plaintiff mailed the notice; and (3) the defendant ceases the unfair consumer practice.

Authorizes the court to supervise settlement prior to judgment. Permits the court to allow persons in the class the opportunity to exercise individual choice with respect to acceptance or rejection of a settlement offer.

Fixes the statute of limitations at three years from the time the cause of action arose. Tolls such statute in any case brought in, and dismissed without prejudice by, a Federal court for the interval between the time the action was filed and one month after dismissal.

Provides venue for a consumer class action in any district in which the claim arose; or in which the defendant is found, has an agent, is licensed to do business, or is doing business.

Provides that nothing in this Act shall be construed in derogation of the law of any State or Federal law.