"Litigation Funder Spending Cash on Political Candidates"

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January 05, 2018

Executives of LawCash, a firm that offers loans to plaintiffs’ attorneys and their clients, have contributed at least $215,000 to political candidates across the country, reports Legal Newsline

Among LawCash’s beneficiaries is New York Attorney General Eric Schneiderman, who has taken legal action against the firm’s competitors, but not the firm itself. LawCash President Harvey Hirschfeld also contributed to Pennsylvania Attorney General Josh Shapiro’s campaign.

LawCash and other lawsuit lending or litigation funding firms have recently come under fire for offering predatory loans. A New York Post report found that LawCash offered loans to plaintiffs with interest rates as high as 124 percent. The Legal Newsline article says RD Legal, a LawCash competitor, allegedly offered loans to plaintiffs in the NFL concussion lawsuit with interest rates as high as 250 percent.