Third-party litigation financing is getting closer scrutiny in New York, where lawmakers are pushing to regulate an industry in which companies have been accused of charging unreasonably high fees and interest rates.

But supporters of third-party litigation funding and representatives from the industry argue that fronting consumers funds from their potential settlements can help cash-strapped litigants make ends meet while they wait for their settlements to get paid out and that reports that some borrowers have been stuck with interest rates as high as 124 percent do not reflect the industry as a whole.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]