Some states regulate lawsuit funding laws

Legal finance industry, which lends money to plaintiffs, is booming.

, The National Law Journal

A growing number of cash-strapped plaintiffs are borrowing money to get by during litigation, a practice that has raised concerns among many lawyers and triggered a move toward regulation in a handful of states. Defense and plaintiffs' lawyers alike are concerned that the legal-finance industry, which makes money by taking a cut of plaintiffs' settlements, is distorting the litigation process, manipulating settlements and gaining access to privileged attorney-client information.

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