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Subcommittee narrows disclosure bill on third‑party settlement funding, removes several prohibitions after lawyer objections
Summary
Lawyers and stakeholders debated a proposed Third-Party Litigation Funding Transparency Act; the subcommittee agreed to remove a set of prohibitions related to commercial litigation funding and asked sponsors to adjust definitions. The committee also discussed symmetry with insurer-funded defense disclosure but did not adopt new reciprocal rules.
The House Commerce and Consumer Affairs subcommittee considered a proposed Third-Party Litigation Funding Transparency Act that would require disclosure when plaintiffs secure outside financing tied to settlements.
Several attorneys and advocates testified about the draft. Nashua lawyer Anthony Scullen urged caution about provisions that would restrict interactions between funders and counsel and described potential problems in rare or complex litigation, saying the bill risks micromanaging…
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