The wide-ranging group called for an investigation into how pension funds may be investing in hedge funds profiting from legal lending, known for usurious interest rates that prey on injured New Yorkers.
The coalition recommended examining pension fund exposure to the predatory practices of third-party litigation funding and potentially divesting from funders in this sector.
Critics view third-party litigation funding as a largely unregulated sector fueling frivolous lawsuits against employers and governments through high-interest loans, questioning the extent of pension fund investments in it.
#new-york-pension-funds #legal-lending #investigation #predatory-practices #third-party-litigation-funding
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