The Legislature finds as fact and determines that:

1. (1) The Alabama Consumer Credit Act, Title 5, Chapter 19, (commonly referred to as the “Mini-Code”), was enacted by the Legislature by Acts 1971, No. 2052, page 3290. All, or a portion, of the provisions of the Mini-Code apply to substantially all consumer credit transactions in Alabama involving billions of dollars annually.
2. (2) The availability of consumer credit and certainty of consumer credit transactions is essential to Alabama citizens and the economy of Alabama. Disputes have arisen involving the Mini-Code resulting in significant litigation.

(Acts 1996, No. 96-576, p. 887, §1.)