December 3, 2013
NORTHBROOK, IL – Oasis Legal Finance, LLC, the nation’s largest and most recognized national brand in consumer legal funding, today announced Kevin Connor as the company’s new General Counsel. In this role, Connor, who comes to Oasis from a senior position in Illinois state government, will lead Oasis’s legal team.
Connor combines his recent service as a state regulator of financial products with over a decade of experience in the insurance industry to give the suburban Chicago-based Oasis a chief legal officer with deep ties to the insurance and financial services industries. Oasis provides non-recourse consumer legal funding to consumers involved in personal injury claims
“Kevin brings a tremendous amount of legal experience to our team,” said Oasis Legal Finance CEO Ralph Shayne, noting that Kevin was the General Counsel of the State of Illinois’ Illinois Department of Financial and Professional Regulations managing all its legal affairs and staff. “His background at both a leading national insurance company and as chief legal officer for a state agency overseeing financial and insurance-related products gives Kevin a unique perspective in helping our team continue to educate the public of the important and necessary role consumer legal funding has in the American system of justice.”
“I am pleased to join Oasis, which has a consumer-focused culture based on helping Americans who previously had nowhere to turn when their lives were devastated by an accident,” said Connor. “This is a growing industry that provides a safe and valuable service to families all across the country, and I appreciate the opportunity to lead a team focused on protecting consumers and a product that helps keep families together, food on the table, and a roof over their heads until the insurance company decides to settle their claim.”
Connor has served in a multitude of public and private legal positions over his career. Prior to joining Illinois’ Department of Central Management Services, he served as the General Counsel and Director of Business Regulation for Illinois’ Department of Financial and Professional Regulations. His first post in state government was as General Counsel in the Office of Management in Budget, where he helped manage a $60 billion operating and capital budget. Prior joining the State of Illinois he was the Assistant General Counsel for CNA Financial Corporation/CNA Insurance, helping oversee $55 billion in assets.
Connor earned a B.A. from the University of Illinois, a J.D. from The Illinois Institute of Technology, Chicago-Kent College of Law and attended DePaul University’s, Graduate School of Business.
May 31, 2013
Oasis Legal Finance would like to thank Oklahoma State Senator Brian Crain (R) and State Representative Leslie Osborn (R) on the passage of Senate Bill (SB) 1016 regarding Consumer Legal Funding. Consumer Legal Funding provides funds for individuals in financial distress while they wait for their legal claim to be resolved.
SB 1016 imposes extensive and common sense protections for consumers who are involved in a Consumer Legal Funding transaction in the State of Oklahoma. Consumers can rely on easy to understand language to assist them in their decision to seek consumer legal funding.
“Our goal with this legislation was to protect consumer, while ensuring the industry could operate in the state,” stated Senator Brian Crain. “This legislation sets in place some of the toughest consumer protections in the country on the industry.”
SB 1016 also sets up a rigorous formal licensing process where the companies operating in the State of Oklahoma will now be required to be licensed by the Administrator of Consumer Credit. Consumers will now know that Consumer Legal Funding companies are reputable firms who have been licensed and approved by the State of Oklahoma.
Representative Osborn stated “Companies will no longer be able to operate in the state without being fully licensed. This will ensure that only the reputable firms in the industry will have their product available to the consumers of Oklahoma.”
Among the restrictions codified in SB 1016 are prohibitions on Consumer Legal Funding companies paying referral fees to an attorney or medical provider; ensuring companies have no influence in the legal claim; and restricting the funds in a Consumer Legal Funding transaction from being used for attorney’s fees or court related costs.
“We would like to thank Senator Crain and Representative Osborn for their leadership on this issue,” stated Michael Pekin, Founder of Oasis Legal Finance. “This important legislation will ensure that consumers are protected and this product will be available to those who need it now and in the future.”
This legislation will now guarantee that the legal system in Oklahoma will be protected by prohibiting outside parties from having any influence in the final outcome of a consumer’s legal claim. In addition, it puts into place important protections for the consumers of Oklahoma who need the financial assistance Consumer Legal Funding provides.