NSSTA has submitted a formal comment to the Consumer Financial Protection Bureau (CFPB) calling for an end to abusive, deceptive, and unfair practices employed by the factoring industry. Congress created the CFPB to provide a single point of accountability for enforcing federal consumer financial laws and protecting consumers in the financial marketp
The National Structured Settlements Trade Association (NSSTA) recently held an event dubbed "Together with Two Days to Make a Difference," which brought together members of Congress and other stakeholders in the structured settlements industry. During the event, attendees had the opportunity to connect with leaders in Congress and engage in productive discussions about the benefits of structured settlements. One of the notable observations made by the NSSTA staff was that most of the Congress leaders were already familiar with structured settlements.
The 2022 Congressional elections included 435 individual races for Members of Congress who serve in the U.S. House of Representatives and 35 races for Members elected to serve in the U.S. Senate. After all the votes were counted, 85 newly elected Members of Congress were sworn into office—seven new U.S. Senators and 78 newly elected Members of the House of Representatives.
As an annuitant, it can be a long and arduous journey, especially when they are young adults experiencing a tragedy.
Finances are not all that annuitants need to move to the next step in life. Annuitants also need to be supported in their grieving process, which often takes a back seat because of everything happening in their life. They also need to be prepared for the range of emotions that come with the settlement, which can lead to mismanagement of the funds given to them if not supported.
In the United States, one in every six people has some form of disability, yet they're not well represented in the workforce or financial system. But in 2014, the Achieving a Better Life Experience (ABLE) Act was passed, allowing people with disabilities to put money in savings accounts. These accounts can help individuals easily save up for future needs and goals.
NSSTA was selected to present to the South Carolina Judiciary about structured settlements and structured settlement factoring.
Susan Stauss with Cozen O’Connor, Sandy Jones with Faegre Drinker, and John McCulloch with IFS represented the National Structured Settlements Trade Association(NSSTA) to provide information about the history and benefits of structured settlements for injury victims and their families.
A person may be injured in the line of work and file a lawsuit for compensation, which can be given as a lump sum or a structured settlement. A structured settlement is whereby the affected person gets a steady amount of payments for some time. This is the best-preferred method, but it also comes with some setbacks, especially when the person needs a large amount of money to offset medical bills or buy a house. That is where a third-party company, mostly called “factoring companies”, comes into place to help.
