Furthering Asbestos Claim Transparency (FACT) Act of 2015

The Furthering Asbestos Claim Transparency (FACT) Act of 2015, also known as Bill 114 hr 526, was introduced in the US Congress with the aim of increasing transparency in asbestos-related claims. The bill sought to require asbestos bankruptcy trusts to provide detailed information on claims made against them, including the names and exposure history of claimants, as well as the basis for their claims.

Proponents of the bill argued that increased transparency would help prevent fraudulent claims and ensure that legitimate claimants receive fair compensation. They also believed that the bill would help prevent double-dipping, where claimants receive compensation from both asbestos trusts and the court system for the same injury.

Opponents of the bill, however, argued that it would violate the privacy rights of claimants and create unnecessary burdens for those seeking compensation for asbestos-related illnesses. They also contended that the bill was unnecessary, as existing laws and regulations already provided sufficient safeguards against fraudulent claims. Ultimately, the FACT Act of 2015 passed the House of Representatives but did not advance in the Senate. The bill sparked heated debate among lawmakers, advocacy groups, and legal experts, highlighting the complex and contentious nature of asbestos-related litigation in the United States.