June 11, 2018

June 11, 2018 - Professor Anthony Sebok writes an op-ed in Crain's New York reacting to a proposal in Albany designed to regulate the consumer litigation finance industry. Sebok, with Ronen Avraham of the University of Texas School of Law, conducted the first large-scale empirical study of the industry. They reviewed more than 100,000 applications submitted by individual litigants to one of the nation's largest consumer litigation finance companies.

He says that a proposal capping the interest rate that can be applied to legal funding in New York would "effectively abolish the industry." 

"Eliminating legal funding would harm accident victims, not protect them. We should grow the marketplace in a safe, sustainable way. Sensible regulations—not interest-rate caps—would accomplish this. I hope state lawmakers keep in mind the principle I teach to my law students: Make it easier, not harder, for people to get justice."

Read Professor Sebok's op-ed in Crain's New York.