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Big I NY is pleased to share that we have become a member of Consumers for Fair Legal Funding—a coalition that supports regulation of the lawsuit lending industry through transparency, disclosure, and limits on interest charges and fees. With growing concerns around increasingly abusive practices by the third-party litigation funding industry, this is a unique opportunity to join a diverse group of organizations committed to consumer protection. ​​ 

Third-party litigation funding (aka TPLF) provides capital for litigants to finance lawsuits that they otherwise may not be able to afford.  While not inherently bad, this unregulated space has quickly become rife with deceptive practices that take advantage of those seeking help and inflate the size of awards.  In the very worst cases, TPLF abuses can even cause long term medical issues for claimants who are unwittingly caught up in insurance fraud schemes. 

On an international scale, TPLF has been a mechanism for foreign actors to influence legal proceedings against their competitors and gain access to intellectual property.  Big I National made TPLF a centerpiece of its 2024 public policy priorities.  Through the coalition, Big I NY will help raise awareness of abusive lawsuit lending practices and advance common-sense solutions to address these concerns.  ​