| Volume 32 Number 5 |
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The People’s Lawyer’s Tip of the Day
Are you paying more than you should for cell phone service? Thousands of employers have arranged for discounts for their employees, but many employees don't know it. Check your cell phone provider's website to see if you are entitled to a discount. Here is the link for AT&T / Cingular. Click here for more.
FDIC Study on Overdraft Charges
A study conducted by the Federal Deposit Insurance Commission found banks were making billions of dollars through automated overdraft programs. The programs allow consumers to overdraw their accounts, then hit them with a median $27 charge for the overdraft. The study found that 81% of banks allowed the overdraft at point of sale or ATM, and over 71% of the banks didn't tell the consumer of the overdraft until after the transaction was completed. Are these fees and business practices worth the "privilege" of using funds you don't actually have? Click here for more.
Fannie & Freddie Execs Ignored Warnings
According to documents released by a House committee, top executives at Fannie Mae and Freddie Mac ignored warning signs that they were issuing too many risky loans. In fact, these warning signs appeared years before the financial meltdown took form. In publicly released emails, it was apparent the executives disregarded clear recommendations to stay away from the risky practices. How will their decision-making change the future of government regulation? Click here for more.
Southwest Airlines Changing Flight Schedules
Dallas-based Southwest Airlines is eliminating 32 round trip flights, replacing the "unproductive" flights with 19 new flights. How will your travel be impacted by the cuts? Click here for more.
Sony to Cut 8,000 Jobs
Electronics superpower Sony Electronics announced it will cut 8,000 jobs. Citing decreased television prices and the downward shift in consumer spending, Sony claims the reduction was necessary to align costs with revenues. Click here for more.
Your Money
How much will it cost to raise a child? Click here for more.
For the Lawyers
A credit repair attorney was suspended for six months. A bankruptcy attorney was suspended from the practice of law for six months and one day after the North Dakota Supreme Court found he did little in the way of meaningful legal work, and also violated rules of professional conduct. Click here for more.