state_legiscan_drain · RI
Makes litigation loan agreements subject to state usury laws.
February 12, 2026
Summary
If enacted, this bill would subject litigation loan agreements to Rhode Island's usury laws, capping interest rates and fees on consumer litigation funding. The bill would affect companies that provide cash advances to plaintiffs in exchange for a portion of future settlement proceeds, as well as consumers who use such funding. Litigation lenders would need to comply with existing interest rate limits, potentially reducing the cost of such loans for consumers.
AI-generated summary · Jun 8, 2026. Verify with your compliance counsel before acting.
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Source: https://status.rilegislature.gov/
Common questions
- What does "Makes litigation loan agreements subject to state usury laws." cover?
- If enacted, this bill would subject litigation loan agreements to Rhode Island's usury laws, capping interest rates and fees on consumer litigation…
- When was it published?
- It was published on February 12, 2026.