NSSTA and the National Consumers League

Submitted by nsstaadmin on Thu, 09/15/2016 - 01:25

As an organization, it is important to us that the value of structured settlements as part of a settlement plan is promoted and protected. Our entire membership works hard to ensure that once these settlement plans are in place for injury victims, they are not unraveled by companies using predatory tactics to target our claimants. The uphill battle we sometime face is made easier by our strong industry partnerships. Today we would like to highlight the partnership we have formed with the National Consumers League (NCL), and thank them for their contribution.

NSSTA and the NCL have worked closely together to first pass, then strengthen, Structured Settlement Protection Acts (SSPA's). Our association, along with the NCL, AAPD, trial attorneys and insurance tradegroups, has been instrumental in passing SSPA's in 49 states. We have also secured passage of the Federal Structured Settlements Protection Act. In addition, over the last 14 months we have worked with state legislatures to improve the SSPA's in Illinois,Wisconsin, Virginia, Florida and Maryland. The NCL has been a vital ally in this endeavor.

NSSTA and our membership support the use of Structured Settlements as part of a comprehensive settlement plan. When the claimants we work so closely with are preyed upon by predatory factoring companies, the damage to their financial futures cannot be understated. We see the improvement of SSPA's as one of our primary goals, and the industry partners that support our mission are invaluable allies in this pursuit. That's why the partnership of groups like the NCL is so important – as a coalition, we can continue to improve the financial security and confidence of structured settlement recipients.

It is with great pleasure that we plan to participate in the NCL Trumpeter Awards Dinner at the end of this month. This year is especially exciting for us at NSSTA, as the award recipient is Attorney General Lisa Madigan. Thanks to her strong leadership, Attorney General Madigan was instrumental in the passage of The Illinois General Assembly's Senate Bill 1268. This bill included amendments that significantly enhanced the protections in the Illinois SSPA. The state of Illinois was one of the first to implement a SSPA, and leads the nation once again with the strongest new protections designed to help protect injury victims and their families.

The National Consumer League has been a valued partner in helping us to protect the rights of claimants and combat the worst practices in the factoring industry. On behalf of NSSTA, we would like to extend our appreciation for their support, and look forward to partnering with their organization in the future!