Last week, House Bill 1242 went to the floor of the Tennessee General Assembly State House and inspired an hour long debate until the sponsor of the bill rolled the bill another week in the face of strong opposition.
One state representative realized that the real intent of this US Chamber of Commerce sponsored bill was to remove legal funding as an option for Tennessee consumers. The US Chamber of Commerce was pushing this bill with the help of the Tennessee House Speaker Pro Tem for the benefit of the insurance companies that oppose these Tennessee consumers in the litigation over the proper price to pay for their injury claim.
As Tennessee State Rep Lynn noted, Tennessee consumers have not expressed concerns over having this option available to them. The ones expressing concerns are the insurance companies that are adverse to them.
The truth about the lawsuit lending bill pushed in Tennessee by the US Chamber of Commerce and its insurance company board members (Allstate, State Farm, etal):
"It will literally put this industry out of business. We may not personally ever have a
need for this product, you and I, and many of the people we know.
However, there are people that do need this product, and generally they need it because they don't have the resources to hold out in a lawsuit like you or I probably could until we get a fair settlement.
No they will be forced to settle for something that they don't feel is as fair, they wanted to use this product but they couldn't because the industry will not exist anymore."