| Volume 40 Number 6 |
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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.
Bank of America Drops Arbitration Requirement
Last Thursday, Bank of America announced that the company will stop requiring mandatory binding arbitration for credit card holders and banking customers. An arbitration clause appears in most consumer agreements, and prevents consumers from using the court system to resolve disputes. Consumer advocates continue to fight the battle to end consumer arbitration, citing a lack of fairness, no enforceable rules, and expense. What does this move mean for Bank of America consumers? Will other businesses follow the lead? Click here for more.
Texas AG Settles With Alpha Therapeutic
Texas Attorney General Greg Abbott has reached a $1.2 million settlement with Alpha Therapeutic over the amount the pharmaceutical manufacturer charged Medicaid for its products. Read the settlement online! Click here for more.
GM on eBay
General Motors has started a new program selling vehicles on eBay. Although purchasing on eBay can save you money, certain risks are involved. Find out everything you need to know before you purchase a Chevrolet, Buick, Pontiac, or GMC on eBay. Click here for more.
Costco Settlement Final Approval Oct. 16
If you were a member at Costco and let your membership lapse, you probably didn't think twice about it. However, if you renewed, your account may have been "backdated" to the time your original account expired. After a recent lawsuit, you may be entitled to a temporary membership. Customers who, from March 1, 2001 to March 31, 2009, purchased and paid for a new 12-month term Costco membership after the expiration of their prior membership are automatically part of the lawsuit. Final approval is set for October 16, 2009. How can you make sure you get what you paid for? Click here for more.
Your Money
Which lender has the better loan? Click here for more.
For the Lawyers
Ambiguity in insurance policy should be resolved in favor of coverage. A Texas appellate court has reviewed the meaning of the term “you” in an insurance policy, finding it to be ambiguous. The court noted that, “Because the meaning of ‘you’ is susceptible of two opposing reasonable interpretations under the circumstances of this case, it is ambiguous.” The court concluded that “If a contract is susceptible to more than one reasonable interpretation, or if its meaning is uncertain or doubtful, we will resolve any ambiguity in favor of coverage.” Click here for more.