Colorado court rules lawsuit lenders cannot duck state’s lending laws
The Colorado Court of Appeals ruled last week that lawsuit lenders must adhere to the same regulations that other lenders operating in the state abide by. “Here, the undisputed facts show that the funds paid by Oasis and LawCash to tort plaintiffs created contingent debt. Specifically, Oasis and LawCash paid money to tort plaintiffs in exchange for the right to receive a portion of the tort plaintiffs’ litigation proceeds if the tort plaintiffs recovered sufficient funds in their lawsuits,” Judge Richard Gabriel wrote for a three-member panel of the court. For the full story, click here.