WI SB705

Regulates nonrecourse civil litigation advances (lawsuit funding) by capping finance charges at prime rate plus 10%, limiting advances to $100,000 per consumer, and requiring repayment within 36 months

Requires written contracts with specific disclosures including annual percentage rate, all fees, 5-day cancellation right, and a statement that consumers owe nothing if they lose their case

Prohibits litigation funding companies from paying referral fees to attorneys or health care providers and bars them from participating in litigation decisions or strategy

Bans parties and attorneys in civil actions from receiving litigation funding sourced from foreign states, foreign citizens, foreign agents, or sovereign wealth funds

Imposes civil forfeitures of $25-$5,000 per violation for noncompliant funding companies, with willful violators losing the right to collect advances; courts may impose forfeitures up to the amount of prohibited foreign funding received