What’s Happened With the District of Columbia’s Proposed Structured Settlement Protection Act

What’s Happened With the District of Columbia’s Proposed Structured Settlement Protection Act

Secondary Insurance Market Blog has been posting about the things that happened following the publication, beginning in August, 2015, of a series of Washington Post articles about allegedly predatory practices in the structured settlement factoring industry.  (See the posts herehere, here, and here for more.)

As some of those posts describe, the legislatures of Maryland and Virginia revised their state structured settlement protection acts (SSPAs) to provide for more protections for payees (and others) who might be impacted by such factoring company practices.

The District of Columbia does not have a structured settlement protection act, but beginning in September, 2015, the D.C. Council started considering adopting such a measure.

The Council is still considering adopted a DC SSPA.

A proposed SSPA was introduced to the legislature again this year, in January, and then in June there was a hearing on the proposal.

As of September 21, no vote had yet occurred to move the proposal closer to enactment.

For more about a 2015 Washington Post editorial about a DC SSPA proposed, see the post here.

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