S1 E57 NY Hits Back on Litigation Funding
Send us Fan MailThis Deep Dive looks at the strong move taken by New York with their recent Consumer Litigation Funding Act. This is a proposed New York law designed to regulate the third-party financing industry by establishing strict consumer protections and oversight. Under this bill, companies that provide cash advances to plaintiffs in exchange for a portion of their legal settlements must register with the state and adhere to mandatory licensing and reporting standards. The legislation mandates transparent contract terms, including a ten-day right of rescission and a cap on total…
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