Legal Funding Firm Challenges Connecticut Regulator’s $25,000 Penalty and Jurisdiction

A legal funding company is contesting a $25,000 penalty issued by the Connecticut banking regulator for running its operations without the required license. The company defended its actions to a state court, stating that the regulator lacks jurisdiction over the matter as the transactions under scrutiny should be classed as investments, not loans. Full information on this case can be found at Law360.