| Volume 71 Number 4 |
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The People’s Lawyer’s Tip of the Day
Do you have a disability that prevents you from using the self serve pump at the gas station? Texas law says you generally are entitled to the self serve price, even if you must use full-service. Click here for more.
40 States Sign On to Mortgage Deal
After mortgage servicers created fraudulent documents and used robo-signers to advance foreclosure proceedings, several states attorneys general proceeded with lawsuits against the banks. The U.S. Department of Justice and the U.S. Department of Housing and Urban Development joined negotiations with JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and Ally Financial in hopes of finding a resolution that most benefited American consumers. According to reports, federal officials and state attorneys general could announce a deal with the nation's largest banks within the next week. Notably absent from the proposed settlement are attorneys general for California, New York, Nevada, Florida and Delaware, leaving the compromise up in the air. The big banks want national immunity from mortgage servicing claims, but representatives from California and New York are insisting on a much better settlement before granting any such protection. Find out why! Click here for more.
$6 Gas May Be On the Way
Industry analysts are predicting big increases for the price of gasoline in the coming months. By May, experts are predicting the price of gas will jump by at least $0.60 per gallon, and easily surpass $4.00 per gallon. But some are insisting the price jump won't stop there. Gasbuddy.com is predicting a jump to $6 per gallon in the very near future. Click here for more.
New Rule Jeopardizes Insurance Rebate
Nearly $900 million in health insurance rebates may be taken from the hands of consumers and put right back in the hands of insurance companies. A rule within the Affordable Care Act requires insurance companies to spend at least 80% of premiums on medical care. The remaining 20% is allocated for administrative costs, salaries, and advertising. The law eliminates broker commissions from administrative costs, meaning that insurance companies will no longer be required to generate consumer rebates. According to The National Association of Insurance, the provision is crucial to keeping insurance premiums low. That is, if the provision was removed from the Act, it would effectively cripple the law's ability to control insurance costs. Do you agree? Take a look. Click here for more.
Your Money
How should you allocate your assets? Click here for more.
For the Lawyers
Health club employee not bound by arbitration clause. The Fifth Circuit held that a health club employee suing for unpaid overtime was not bound by an arbitration clause in his employee handbook. The court decided that the defendant’s arbitration clause was illusory and unenforceable because the employer retained the unilateral right to modify or terminate the arbitration provision at any time. Click here for more.