From the U.S. Chamber of Commerce…
Thanks to your grassroots efforts, we have so far stalled a bill in Springfield that would legitimize an industry of “Lawsuit Loan Sharks” in Illinois.
This weekend, the Chicago Tribune editorial board also weighed in, urging the General Assembly to reject this wrongheaded bill:
Bottom line: The bill would give legal certainty to an abusive practice and put it under a light regulatory scheme where it can flourish — spawning lawsuits galore. Illinois already has a notorious reputation for jackpot justice. Kill the bill.
We agree.
Please click here today (even if you’ve already done so) to email your state legislators to urge them to reject the Lawsuit Loan Shark bill.
Right now, Illinois needs more jobs — not more lawsuits.
Aside from encouraging more lawsuits in Illinois, this bill raises several additional questions:
- Are trial lawyers and plaintiffs making decisions about their lawsuits based on the interest of the law — or the interest of getting a return for their lawsuit lender?
- Is the bill aimed at actually helping injured parties — or creating more profits for trial lawyers and lawsuit lenders?
- Will this legislation encourage inflated lawsuit settlements?
So many ethical questions about a bill clearly designed to benefit trial lawyers and newly-created lawsuit lenders.
We need to make sure this bill gets stopped.