Litigation funding, which allows cash-strapped litigants to borrow money against future recoveries, could become a regulated industry in New Jersey if lawmakers pass a bill that’s currently the subject of negotiations between the sponsor and industry insiders.
The principal issue is where to set interest rate caps, if at all, according to Assemblyman John McKeon, whose bill, introduced earlier this year, sizes up what’s been an unregulated industry for nearly 30 years.
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