| Volume 57 Number 5 |
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The People’s Lawyer’s Tip of the Day
Don't ever click on a link in an email message from a financial institution. There are so many scams involving fake emails from banks, credit unions, credit card companies, and other types of lenders that my advice is to assume everything you receive is fake. If you think it might be genuine, call the institution to verify it. Click here for more.
House Democrats Vote Against Tax Bill
House democrats defied President Obama on Thursday, voting against bringing the deal President Obama struck with republicans to the House floor for debate. According to Democratic Congressman Chris Van Hollen, the bill in its current form is not acceptable. Although the President expects the deal to make it to the House floor at the beginning of the new year, the move demonstrates the President's recent loss of support within his own party. President Obama warned House democrats that failure to pass the measure could come at the cost of American jobs. Will Americans see a January 1 spike in income taxes? Click here for more.
Rolaids Recalls 13 Million Packages
Following complaints of foreign materials, including metal and wood particles, in Rolaids medications, Johnson & Johnson has issued a recall for 13 million packages. The recall is just the latest for Johnson & Johnson, which previously issued recalls for Tylenol and Benadryl products throughout the year. Click here for more.
ATM Friendly Banks
Sick of ATM fees? Using a competitors ATM machine can cost a consumer $5 or more per transaction. If you frequent out-of-network ATM machines multiple times a year, you may consider a fee-friendly bank. To read about ATM friendly banks, Click here for more.
Your Money
What will it take to save for a college education? Click here for more.
For the Lawyers
Points are not actionable under RESPA. The 11th Circuit found that points charged by a lender do not fit within the language of RESPA. "The principal question this appeal presents is whether, in connection with a residential mortgage loan, charging a loan discount payment—otherwise known as 'points' or 'discount points'—to provide a specific, below-market interest rate constitutes the 'rendering of a real estate settlement service' within the meaning of § 2607(b)." The court concluded they do not. Click here for more.