The Latest State To Regulate 3rd-Party Funding By Statute

Law360, New York (June 28, 2016, 9:44 AM EDT) -- In March 2016, the state of Indiana joined a handful of others — including Maine, Nebraska, Ohio and Oklahoma — that authorize and regulate the consumer third-party litigation funding industry by statute. In doing so, Indiana became the latest state to uphold consumer choice while introducing protective measures to weed out potentially predatory lending to those involved in insurance claim settlement proceedings. Scheduled to take effect on July 1, the statute also established a new distinction between the various types of legal funding. But, in doing...
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