| Volume 55 Number 2 |
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The People’s Lawyer’s Tip of the Day
In most cases, buying an extended warranty is a bad deal. Most stores try hard to sell you an extended warranty for almost anything and it is because of their profit not your needs. Before buying an extended warranty do some research. Most products do not break down during the extended warranty period, and most repairs cost less than the warranty. Click here for more.
Bank of America Stops Foreclosures
Bank of America will halt foreclosures in 23 states. According to the Associated Press report, Bank of America admitted to signing up to 8,000 foreclosure documents a month without reading them, seriously undermining the company's paperwork. Connecticut Attorney General Richard Blumenthal has already ordered a 60 day moratorium on all foreclosures by all banks, not just Bank of America. Has your state imposed a moratorium? Are you thinking about buying a foreclosed home? Click here for more.
Government to Require 62MPG By 2025
Last week, the Obama Administration announced new fuel economy standards for cars that will start in 2017. According to the announcement, fuel economy standards could grow by six percent each year. By 2025, automobiles will be expected to meet a standard of 62 miles per gallon. The new standards could save consumers nearly $200 billion in gasoline by 2025. Click here for more.
Stimulus Subsidized Workers Lose Jobs
When Congress passed the stimulus package last year, federal lawmakers built in provisions to create and save jobs nationwide. On Thursday, the stimulus-subsidized employment program came to an end. As a result, tens of thousands workers are out of work. State officials and advocacy groups have been lobbying Congress to extend funding. With midterm elections coming up, an extension is unlikely. What is the outlook on unemployment? Click here for more.
Your Money
What is the return on your stock if you sell it now? Click here for more.
For the Lawyers
Credit reporting agency liable for not acting promptly. A federal district court in Florida held that failure to remove an inaccurate entry after being provided with proof that it was incorrect results in liability under the Fair Credit Reporting Act. The court, however, awarded only actual damages, and denied statutory or punitive damages. Click here for more.