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Insurance groups and consumer‑side trade groups debate regulation of third‑party litigation funding
Summary
Witnesses including insurers, trade groups and litigation funders urged the committee to pass consumer‑protection rules for litigation funding; some defense‑side critics and attorneys warned disclosure requirements could advantage defendants and hamper plaintiffs’ litigation access.
The committee heard testimony on proposals to regulate third‑party litigation funding (sometimes called litigation finance or predatory litigation lending). Supporters — including insurers and third‑party funder trade groups — described the bills as pro‑consumer and urged transparency and caps to prevent predatory practices. Opponents, including some plaintiff attorneys and public‑interest lawyers, said certain disclosure and discovery requirements could give defense counsel leverage and harm plaintiffs’ access to justice.
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