The Department of Finance has developed the Finance Toolkit , a reference guide on financial statements, financial analysis, financing and break-even analysis as taught in UBUS 310 and UBUS 311. Upwards of thirty students occupied the Department of Finance in the center of Dublin with a couple of hundred supporting them in the streets outside. Ultimately, in the case of Oasis Legal Finance Group, LLC v. Coffman , the Colorado Supreme Court decided that these litigation finance transactions constitute loans” that are subject to the Colo. The litigation finance companies provide money, usually less than $1,500, to those tort plaintiffs while their cases are pending.
More particularly, Colorado’s high court ruled that litigation finance companies that agree to advance money to tort plaintiffs in exchange for future litigation proceeds are making loans under Colorado law, even if the plaintiffs do not have an obligation to repay any deficiency should the litigation proceeds prove to be less than the amount due. Oasis Legal Finance Group, LLC, Oasis Legal Finance, LLC, Oasis Legal Finance Operating Company, LLC (collectively, Oasis), and Plaintiff Funding Holding, Inc.
The court sketched the business model for litigation finance companies, relating that the companies typically buy interests in the potential proceeds of various personal injury cases—auto accidents, slip and falls, construction site injuries, and medical malpractice incidents, for example—by executing agreements with the tort plaintiffs. Notably, the agreement called for the seller-plaintiff to refer to the litigation finance transaction as a sale,” not a loan, for all purposes—including tax treatment.
The Colorado Supreme Court emphasized that whether litigation finance transactions are or are not good for consumers” was a question better suited to the legislature.” Turning its attention to the definition of a loan” under the Colo. The proposed amendments require parties seeking default judgments against servicemembers to check Department of Defense records to determine duty status. The Federal Trade Commission and the Veterans Administration have signed a Memorandum of Agreement to further their ongoing efforts to stop fraudulent and deceptive practices targeted at service members, veterans, and dependents who use military education benefits.
In prepared remarks for an appearance at the Brookings Institution, CFPB Director Richard Cordray said that the CFPB worked closely with the Social Security Administration to develop the retirement tool. Americans are eligible to claim Social Security retirement benefits without any reduction at their full retirement age,” according to the Social Security Administration.