| Volume 50 Number 12 |
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The People’s Lawyer’s Tip of the Day
Federal law allows you to withhold payment from your credit card company if the goods you purchase never arrive. But you must act quickly. Under the law, you must dispute your bill within 60 days of when it is sent. Wait too long and you lose you rights! Click here for more.
Buckle Up: Seat Belt Campaign Begins
Eighty-four percent of Americans use their seat belt when they get in the car. Rather than celebrate the large amount of Americans wearing seat belts when they drive, most states are now committing to deliver a message to the remaining sixteen percent. From May 24 to June 5, the "Click It or Ticket" law enforcement blitz will take place nationwide. If you aren't wearing a seat belt, you're probably going to get a ticket. Don't give them a reason to pull you over - Buckle up! Click here for more.
GM Bailout: Taxpayers Hope for Profit
When American taxpayers bailed out GM, most did not expect the company to pay back the loan so quickly. In addition to the loan, taxpayers own 61% stake in the automaker. General Motors plans to start selling shares to the public soon. In order to pay back American taxpayers, the company must have a market value of at least $67 billion at the time of the offering. Last year the goal was laughable. Today it appears as though the public actually has a chance of making a profit, with many analysts putting the market valuation between $64 billion and $90 billion. Click here for more.
Obama Forces Votes on Spending Cuts
President Barack Obama plans to force Congress to vote on wasteful spending and earmarks. This week, President Obama sent legislation to Congress to compel a vote on wasteful spending. The legislation will give the Administration an additional two weeks to review a bill for waste after it has passed. Only a few years ago, Democrats filibustered a similar move. Is President Obama simply encouraging fiscal responsibility, or is he bucking his own party? Click here for more.
Your Money
Should you borrow from your home equity? Click here for more.
For the Lawyers
Additional credit card holder can’t sue under TILA. The Ninth Circuit held that Federal law did not obligate a credit card company to resolve a dispute with a consumer who received his card through an account holder. Click here for more.