At the American Legal Finance Association (ALFA), we are committed to promoting fair, ethical, and transparent funding standards to protect legal funding consumers. ALFA is built on a belief in equal access to justice, a commitment first laid out by the Magna Carta, which included Clause 40: “We will not sell, or deny, or delay right or justice to anyone.” Legal funders promote this principle in a legal system in which powerful defendants often have significant advantages over individual victims.
- Members maintain the highest ethical standards and fair business practices within the legal funding industry.
- We have developed standardized documentation for funding agreements for use by ALFA members
- We maintain a comprehensive database (the Investment Management System, or IMS) of legal funding advances made by ALFA members. ALFA members use this database to avoid potential problem cases and to ensure that cases are not over-funded
- ALFA represents members and their interests to regulators, legislators, the media and the public.
- Institute legal and regulatory frameworks in individual states that meet the needs and concerns of all parties interested in legal funding
- ALFA establishes and maintains dialogue with attorneys’ groups nationally and in individual states
- Hold ALFA member meetings to set strategy and pursue initiatives
- Provide a voice with attorney’s groups nationally