| Volume 33 Number 3 |
Subscribe to the Newsletter
Forward this news alert to your family and friends
Helpful Links
Texas Consumer Complaint Center
Credit Reports and Identity Theft
Your Guide to Small Claims Court
Contact Us
1-713-743-2168
The People’s Lawyer’s Tip of the Day
If your credit card is lost or stolen, your liability is limited to $50. But there are different rules for debit or check cards. If you wait more than two days to report the loss, your liability increases to $500. Promptly report any loss or theft. Click here for more.
Gas Prices on the Rise, But Don't Expect $4 Gas Yet
In the past week, gas prices have gone up over 10% nationally. During the Summer, when gas prices were over $4.00, consumers started closing their wallets and finding alternative means of transportation. As gas prices dropped, consumer behavior didn't change, and demand for gasoline didn't make a significant shift. After oil production was cut, prices started to gradually increase due to a decrease in market supply. Expect gas prices to rise, but don't panic. Since consumers are still watching their wallets, demand remains relatively low. As long as economic uncertainty remains, gas prices should stabilize in the coming months. Click here for more.
Circuit City May Only Survive One More Week
On Friday, troubled retailer Circuit City said that it has until the end of next week to reach a deal to stay in business or it will likely start liquidating. Currently, Circuity City is working to find additional funding to stay afloat, or outright sell the operation. According to bankruptcy experts, if Circuit City doesn't find a way to continue business through the end of next week, they will be forced to close their doors for good. Click here for more.
Fair Pay Legislation Passes the House
Last week, the House of Representatives passed two pay-equity bills. The Paycheck Fairness Act requires employers to provide a legitimate reason for paying different salaries to men and women performing the same job. Click here for more.
Citi & Morgan Stanley May Join Forces
In a move that could seriously disrupt the financial market, Citigroup is in advanced talks to sell it's brokerage unit to Morgan Stanley. Under the potential deal, the two banks would set up a joint venture. Morgan Stanley would control it with a 51 percent stake and expect to buy Citi 's 49 percent share over three to five years. What does this mean for the financial bailout? What does it mean for you? Click here for more.
Your Money
How much college financial aid can you expect? Click here for more.
For the Lawyers
A provision in the Bankruptcy Abuse Prevention and Consumer Protection Act that forbids attorneys to advise clients to incur debt prior to filing for bankruptcy is constitutional. The Fifth Circuit stated that, "To avoid potential constitutional questions regarding ยง526(a)(4)'s restrictions on speech, this court construes the statute to prevent only a debt relief agency's advice to a debtor to incur debt in contemplation of bankruptcy when doing so would be an abuse of the bankruptcy system. In so interpreting the statute, we avoid the constitutionality questions raised by [the plaintiff], and conclude that the statute only affects unprotected speech." Click here for more.