| Volume 30 Number 4 |
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The People’s Lawyer’s Tip of the Day
Are you being unlawfully threatened or harassed by a debt collector? In most states, taping his telephone conversations is legal, and good proof that he has violated the law. What's the law in your state? Click here for more.
Citigroup and Wells Fargo Fight Over Wachovia
Citigroup, whose planned purchase of Wachovia was recently stopped by Wells Fargo, announced it filed a complaint seeking more than $60 billion from the two banks. Also, Citigroup received a restraining order from a New York State Supreme Court justice on Monday to temporarily block the Wells Fargo takeover. Now, the banks have made a temporary truce. The end result may be a split of the bank. What does it mean for you? Who will end up "winning" the take-over? Click here for more.
U.S. Automakers Struggle Against Unstable Credit Market
GM and Ford are looking for new ways to save some cash. Amid the financial crisis, don't expect any great new rollouts from either company. As GM struggles, they are taking a hard look at what initiatives can be readily delayed. Ford and Chrysler have struggled right along with GM. All of the companies are cutting workers, including "white-collar" positions, and shelving new model vehicles. As their credit lines become tapped, having cash on hand will become difficult. What's in store for these American giants? Click here for more.
Scams Sprout from Financial Crisis
The Wall Street meltdown has many consumers worrying about their finances. As a result, many will be vulnerable to opportunistic scam artists who try to capitalize on the economic crisis. Recently, the New York State Consumer Protection Board created a list of scams to avoid. As the major lenders hold their money tight, scam artists will try to suck you into questionable loans and "get right quick" schemes. This list can help you know what to avoid. Click here for more.
Global Financial Crisis May Get Worse
This week the International Monetary Fund ("IMF") increased its estimate of global losses from the financial meltdown to $1.4 trillion. This seven month, $500 billion increase in global losses suggests the world's economic downturn is only getting worse. The IMF called for measures to restore confidence and to avert a more protracted economic slowdown. Amid a global financial breakdown, your best tool is your knowledge. Be informed. Click here for more.
Your Money
Estate tax planning is very important to preserving wealth for your kids and/or relatives. Knowing the potential estate tax liability is a great place to start any estate tax plan. Use this estate tax planning calculator to estimate estate the tax liability for 2008. Click here for more.
For the Lawyers
Fair Credit Billing Act places burden on credit card issuer to show disputed charge was authorized. An Arkansas appellate court has held that the FCBA should be liberally construed in favor of the consumer, and the burden of showing authorized use rests with the insurer. Click here for more.