Capital Tonight: Senator Ortt and Tom Stebbins take on Lawsuit Lending

Senator Rob Ortt and LRANY’s Tom Stebbins joined Liz Benjamin on Capital Tonight last week following a public hearing regarding regulating the lawsuit lending industry:

There’s a lucrative industry in New York known as lawsuit lending, and state lawmakers want to crack down on it.

Lenders provide up-front cash to plaintiffs in lawsuits who promise to repay the money after winning a settlement or award in their case.

However, these lenders are charging sky-high interest rates, making it impossible to repay the loan.

Watch the full segment here.

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