Texas Lawmaker Wants To Clamp Down On Lawsuit Lenders

Law360, Houston (March 18, 2013, 4:58 PM EDT) -- A Texas lawmaker on Monday said a pair of bills pending before the Legislature would impose tougher regulation on the state's lawsuit lending industry aimed at protecting consumers from exorbitant interest rates and limiting the influence of lenders on lawsuit settlements.

Texas Rep. Doug Miller, R-New Braunfels, who authored H.B. 1595, that his bill and companion legislation pending in the Texas Senate promote usury limits on lawsuit lenders' loans by requiring the terms of such loans to be disclosed during litigation.

"Right now in Texas and...
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