Fairness in Class Action Litigation and Furthering Asbestos Claim Transparency Act of 2017

[AI summary unavailable — showing source text] Fairness in Class Action Litigation Act of 2017 This bill amends the federal judicial code to prohibit federal courts from certifying certain class actions unless: (1) each proposed class member suffered the same type and scope of injury as the named class representatives; (2) no class representatives or named plaintiffs are relatives of, present or former employees or clients of, or contractually related to class counsel; and (3) a reliable and administratively feasible mechanism is demonstrated to determine whether putative class members fall within the class definition and to distribute any monetary relief directly to a substantial majority of class members. The bill limits attorney's fees to a reasonable percentage of the payments received by class members or the value of equitable relief. No attorney's fees may: (1) be paid until distribution of any monetary recovery to class members has been completed, or (2) exceed the total amount distributed to all class members. Class counsel must submit an accounting of the disbursement of funds paid by defendants in class action settlements. The Judicial Conference of the United States must use the accountings to prepare an annual summa…