legal funding

Counterpoint: Unintended Consequences Plague Ward’s Well-Intentioned Legislation in Alabama

This week, our Executive Director, Rob Johnson, struck back at Alabama Sen. Cam Ward’s off base op-ed recently published in the Alabama Political Reporter. From Johnson’s response:

“As Thomas Edison said, “a good intention, with a bad approach, often leads to a poor result.” This week, Sen. Cam Ward is planning to propose legislation that would eliminate his constituents’ ability to access a lifeline when they’ve been injured in an accident —removing consumer choice and curtailing the free market…

Sen. Ward (Time to Lend the Poor a Hand by Shining a Light on Lawsuit Lending) said “…Oklahoma…passed common-sense regulations [of the legal funding industry] over the past few years.” We agree. A few years ago, as a legislator in the Oklahoma State Senate, I helped pass legislation that brought strong regulations to an industry that had operated without regulation for years.

We did it by making sure that consumers were protected, that they were empowered to make informed financial decisions, and that bad actors couldn’t operate. As a result, people have had access to a highly competitive marketplace so that people can find affordable legal funding if they need it. You should not eliminate choice for people that need more options.”

Read the full text HERE.