Bulbrook Drislane Brokerage Lauds new Maryland Regulations
Posted on January 7, 2016
Wellesley, MA, January 7, 2016
Bulbrook Drislane Brokerage, one of the leading independent structured settlement distributors, today commented on the Maryland Court of Appeals’ final ruling concerning structured settlement reform as well as ongoing Congressional Committee oversight. The new rules arose from recent scrutiny of the predatory treatment of victims of lead paint poisoning by certain structured settlement factoring companies. While we do not buy structured settlements directly from injured parties, we offer the following commentary:
Bulbrook Drislane shares the view of legislators, regulators and many others in condemning the predatory practices exposed in Maryland. There is no room in our industry for such conduct, which preys upon some of the most vulnerable in our society. As currently drafted the new rules contain provisions which will be helpful in overseeing how structured settlement purchasing companies conduct business. Bulbrook Drislane has always been in favor of common sense regulations which protect consumers and allow for a competitive marketplace in which to buy or sell structured settlement payments. With regard to legislative oversight, Bulbrook Drislane has been and will continue to be helpful in any way possible with regard to providing information and insights to inquiring legislators as to regulatory and legislative reform. John Bulbrook has given interviews dating back several years expressing concern that regulations be in place to protect consumers. Ultimately these rules and regulations also benefit our clients, buyers of structured settlements, in that their purchases are more secure when all involved in the settlement transfer have been treated fairly and given fair compensation for their future payments.
Looking ahead, Bulbrook Drislane affirms its commitment to work with interested parties, including regulators, to do its part to help ensure that the structured settlement purchasing industry is squarely aligned with the overarching goal of providing fair compensation to structured settlement annuitants for their future payments.
For more information, please contact:
John Bulbrook, CEO
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