Category Archives: Consumer
Calls to Regulate Consumer Legal Funding
A recent opinion piece on Consumer Legal Funding pulls no punches in its condemnation of the industry. Its author, Kirsten John Foy, refers to being a “victim” of “predatory practices” of third-party funders. Foy utilized the services of a third-party funder after a violent police assault led to his hospitalization. To cover his living expenses…
Missouri Legislature Explores Litigation Finance Regulation
Missouri’s House of Representatives recently introduced the “Consumer Litigation Funding Model Act” in an effort to regulate disclosure of litigation funding agreements at the time of case discovery. If the bill is passed into law, all litigation finance investments would be regulated by Missouri’s Department of Commerce and Insurance. The bill appears to be a…
Lion Air Flight 610 Victim’s Fund Embezzlement Probed by California State Bar
With $2M missing from the Lion Air plane crash victims fund, California’s State Bar fears that disgraced attorney Tom Girardi may have embezzled the funds. Mr. Giradi was disbarred this past August, however, it appears that California investigators may have fallen prey to free gifts, plane rides and expensive wine from Girardi … allegedly tainting…
Politician Alleges “Lawsuit Abuse” Against Consumer Legal Funders
Is there “lawsuit abuse” happening in Iowa and elsewhere? If so, is Consumer Legal Funding to blame? One former trucker and current Iowa state senator alleges exactly that—and Governor Kim Reynolds is on board. Several bills are in the works to limit award sizes and prevent litigation funders from increasing access to justice for those…
Oasis Financial Becomes Libra Solutions as Offerings Grow
Oasis Financial announced today the change of its parent company name to Libra Solutions. The change was filed on January 10, 2022, and the company formally launched the new name February 23, 2022.
Alliance for Responsible Consumer Legal Funding (ARC) Teams Up with Money Management International (MMI) to Offer Customers Access to Financial Resource Site
The leading trade association for the consumer legal funding industry, Alliance for Responsible Consumer Legal Funding (ARC), a nonprofit organization, announces the relaunch ARCFinanciallyFit.com (Financially Fit), a website providing consumers with tools to achieve financial wellness, bolster emergency savings, and better prepare for a rainy day.
Georgia Man Gets 5 Years in Prison for Consumer Legal Funding Scheme
Anyone who was wondering if the Federal Bureau of Investigation (FBI) is tracking the up-and-coming litigation finance sector, need wonder no more. A Georgia man who has been tricking litigation investigators since 2016, has met the heavy hand of justice. …
Choosing the Right Consumer Legal Funding Company
You have a meritorious case with a good chance of winning. That’s good news, right? But did you know it could be months or even years before that money is in your hands? Appeals, delayed negotiations, unwillingness or inability to pay…all of these can contribute to an even longer wait to get what you’re owed….
Litigation Is Driving Up U.S. Commercial Auto Insurance Costs, Study Finds
Social inflation—the impact of rising litigation on insurers’ costs—increased claim payouts for commercial auto insurance liability alone by over $20 billion between 2010 and 2019, according to a new paper by Insurance Information Institute (Triple-I), in partnership with the Casualty Actuarial Society (CAS).
Lawsuits May be the Only Valuable Possession of Newly Released Prisoners
Chicago has been called the ‘wrongful conviction capital’ for its policing tactics that allegedly lead to bullying defendants into false confessions, or withholding evidence that would clear a wrongly convicted individual. Being released from prison after a wrongful conviction is obviously better than the alternative, but the newly released prisoner must then contend with starting…
