| Volume 43 Number 6 |
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The People’s Lawyer’s Tip of the Day
Every state is different, but in Texas, a landlord cannot lock you out of your apartment even if you don't pay rent. The landlord may change the locks on the door but he must provide a key to allow you to come and go 24 hours a day. Click here for more.
3 Ways to Start Saving Now
Saving for retirement is crucial. Despite the importance of a solid retirement plan, many people simply find it difficult to get started. Be Prepared! These three tips will help you start your track to retirement. Click here for more.
House Approves Consumer Protection Agency
The U.S. House of Representatives voted 223-202 to approve the Wall Street Reform and Consumer Protection Act of 2009. The act will create a new Consumer Financial Protection Agency focused on protecting consumers from various financial products and services. The new agency would have authority over debit cards, overdraft fees, credit counseling, payday lenders, and much more. The act must now pass the U.S. Senate. Does it have a chance? Click here for more.
Energy Efficient Appliance Rebate Program
The new $300 million State Energy Efficient Appliance Rebate Program is creating a lot of buzz. The Department of Energy has approved 38 states so far to participate in the program. How do you get your rebate? Which appliances are covered? Is there a limit to the number of rebates you can receive? Find out everything you need to know about the program! Click here for more.
Your Money
Calculate your credit risk. Click here for more.
For the Lawyers
Bank didn't violate TILA by increasing APR. The First Circuit held that a bank did not violate the Truth in Lending Act when it made a credit card holder's APR increase effective from the beginning of the month. The plaintiff alleged that the bank violated the Truth in Lending Act by applying a rate increase to the annual percentage rate retroactive to the start of the month in which she defaulted, without prior notice. The court relied in part on a Federal Reserve Board amicus brief, which noted that the regulation at issue had changed. “It is the Board’s position that at the time of the transactions at issue in this case, Regulation Z did not require a change-in-terms notice to be provided when a creditor increased a rate to a figure at or below the maximum allowed by the contract in the event of default.” Click here for more.