Furthering Asbestos Claims Transparency Act of 2015

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Furthering Asbestos Claims Transparency Act of 2015

The Furthering Asbestos Claims Transparency Act of 2015, also known as the FACT Act, was a proposed piece of legislation in the United States Congress. The primary aim of the Act was to increase transparency in the process of filing asbestos-related claims.

Background

Asbestos exposure has been linked to various health issues, including mesothelioma and lung cancer. Due to the long latency period of these diseases, individuals exposed to asbestos may not develop symptoms until many years later. As a result, asbestos litigation has been a significant issue in the United States legal system.

Provisions

The FACT Act sought to address concerns about potential fraud and abuse in asbestos litigation by requiring the public disclosure of information related to asbestos claims. Specifically, the Act would have mandated the reporting of detailed information about asbestos trust claims, including the names of claimants and the basis for their claims.

Controversy

Supporters of the FACT Act argued that increased transparency would help prevent fraudulent claims and ensure that compensation reached legitimate victims of asbestos exposure. However, opponents of the Act, including consumer advocacy groups and some legal experts, raised concerns about privacy issues and the potential for the disclosure of sensitive personal information.

Legislative History

The Furthering Asbestos Claims Transparency Act of 2015 was introduced in the House of Representatives on January 6, 2015, by Representative Blake Farenthold. The bill passed the House on January 8, 2016, but ultimately did not become law.

Impact

While the FACT Act did not pass, the debate surrounding asbestos claims transparency continues to be a topic of discussion in legal and policy circles. Advocates for transparency in asbestos litigation continue to push for reforms to ensure that compensation is distributed fairly and efficiently.

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