Business Services Industry
Legal fee disclosure needed.(Brief Article)
Business Insurance, September, 2001
FULL DISCLOSURE IS ONE of the best consumer protections available. That is a key reason why we support a petition that the Washington Legal Foundation recently filed with the Federal Trade Commission that aims to protect consumers from potential abuses in our legal system. The WLF, a free-market advocacy group, is calling for the FTC to make it an unfair trade practice for attorneys to enter into contingency fee arrangements without providing their clients with even basic information about those arrangements.
And the information the WLF would require is quite basic-giving in writing a potential client three business days to reconsider and rescind an agreement; acknowledging that the size of a contingency fee can always be negotiated; and informing the client...
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