The People's Lawyer Consumer News Alert
Center for Consumer Law
  Volume 31 Number 4

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The People’s Lawyer’s Tip of the Day

All banks are not created equal. Their services may be the same but prices are not. Shop around. Ask about free checking and online banking. Find out what the rate of interest is on deposits and what they charge for bounced checks, stop-payment orders and other services. Set up a line of credit instead of agreeing to "free" over-draft protection. A little comparative shopping can save you hundreds of dollars a year. Click here for more.


Houston Bank Fails Amid Economic Crisis

The number of failed banks this year has risen to 19. The latest victims? Houston based Franklin Bank and California's Security Pacific Bank. Houston's Franklin Bank, with over $5.1 Billion in assets, was shut down by federal regulators on Friday. Prosperity Bank will assume all of the deposits of the failed Texas bank. The bank will even include those deposits that exceed insurance limits. Smaller regional banks continue to struggle. Could yours be next? Click here for more.


The Best Time to Buy a Home

In the midst of the mortgage crisis, some suggest that now is the best time to buy a new home. Not so fast! There are many variables to consider before you decide to buy a new home. Although the housing market is pretty bleak, experts suggest the market is still falling. Regardless, it's impossible to predict the market. Your best tool is an understanding of the market and what external factors may change the dynamics. Click here for more.


Your Money

Which is right for you? A new or used car? Before you make the big purchase, know the impact on your wallet! Click here for more.


For the Lawyers

False advertising class action decertified. The Seventh Circuit held certification was improper because the court cannot presume reliance and would require individual hearings and proof. Click here for more.

 

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