Meanwhile, interest rates would be capped at 12%, according to a report from BestWire. Financiers would also be prohibited from paying referral fees to attorneys or law firms and from directing or influencing legal strategy, settlement decisions, or attorney-client relationships. Full disclosure of all litigation funding agreements would be required to all parties in a lawsuit, including the complete agreement itself. Violations would be treated as unfair or deceptive acts under Washington’s consumer protection laws, the report said.
