SB 1070 would ban 'lawsuit lending'

Published: April 9, 2012

It's not often that Texans point out when Oklahoma beats them (especially in football), but I'd like to congratulate the Oklahoma Legislature for beating Texas to the punch in considering legislation to ban lawsuit lending. In this shady legal practice, lenders offer to pay plaintiffs up front in the expectation that the plaintiffs will get a large award from their lawsuit, but their fees are often so high that consumers end up with nothing or, even worse, end up in debt even after receiving their lawsuit award or settlement.

Senate Bill 1070, if passed, would ban lawsuit lending and thus protect the poor and vulnerable on whom such lenders most often prey. This legislation has already passed the Senate and is under consideration in the House. It's a good sign for Texans that our lawmakers are looking into this issue in an interim committee this year. I encourage Oklahoma legislators to pass this measure quickly and set an example for Texas to follow in its 2013 legislative session.

Roger Borgelt, Austin, Texas

Borgelt, an attorney, is secretary-treasurer for Citizens Against Lawsuit Abuse of Central Texas.

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