House Considers Structured Settlement Bill.

From: National Underwriter Property & Casualty-Risk &Benefits Management | Date: August 17, 1998| Author: | Copyright information

The House Ways and Means Committee is considering federal legislation to eliminate the market for purchasing the structured settlement payment streams of injured persons.

H.R. 4314 was introduced in Congress on July23. It is sponsored by 16 committee members. Rep. E. Clay Shaw Jr., R-Fla., is the originating sponsor.

Rep. Shaw, who was vacationing and could not be reached for comment, has accused factoring companies-which pay lump sums to parties in return for rights to future payments under their structured settlements-of "directly undermin[ing] the policy of the structured ...

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