ALFA Statement On End Of 2019 New York Legislative Session

Albany, NY — Last week, the New York Legislature adjourned without passing legislation to regulate the consumer legal funding industry in the state. The American Legal Finance Association (ALFA) supports robust regulation of funding companies requiring licensure, registration, and disclosure, among other consumer protections. ALFA urges lawmakers to prioritize legislation addressing this issue in the next session.

ALFA Executive Director Kelly Gilroy released the following statement:

“We saw a great deal of support for consumer legal funding regulation in the New York Legislature this session. While we had hoped this would lead to the passage of legislation, we are encouraged by increasing awareness of the value consumer legal funding has for victims seeking justice and the importance of regulating the industry. We look forward to our continued work with New York lawmakers to promote legislation that will protect consumers and preserve access to this critical resource.”

“ALFA thanks the members of the New York Legislature for their work to pass a consumer legal funding law in the state. Several bills were introduced this session that, if passed, would establish the high standards we need for the industry. ALFA will continue to advocate for robust regulation in New York State and across the country.”

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The American Legal Finance Association (ALFA) represents the leading consumer legal funding companies across the country. We promote fair, ethical, and transparent funding standards in our industry. Learn more here: AmericanLegalFin.com