| Volume 71 Number 10 |
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The People’s Lawyer’s Tip of the Day
The Texas Deceptive Trade Practices Act requires full disclosure by sellers. If a seller intentionally withholds material information, he could be responsible for three times the consumer's damages, plus court costs and attorney's fees. Click here for more.
CFPB Targeting Bank Overdraft Fees
Consumer paid nearly $30 billion in overdraft fees last year. Although new rules were implemented in 2010 to battle fees, big banks found loopholes, exploited them, and actually increased overdraft fees. Overdraft fees can be a great headache for consumers, and an even bigger financial burden. As a result, Richard Cordray of the Consumer Financial Protection Bureau has announced plans to investigate banks and address the problem of overdraft fees. How can the Consumer Financial Protection Bureau finish what the government tried to accomplish in 2010? Click here for more.
IRS Has $1 Billion in Unclaimed Returns
If you still haven't filed your 2008 tax return, you may be missing out on a lot of money. According to the Internal Revenue Service, it still has $1 billion in unclaimed tax refunds from 2008. Time is running out. If you want your money back from 2008, you must file your return by April 17. Click here for more.
Consumer Privacy Bill of Rights Lacks Bite
On Thursday, the Obama administration announced its support for the "Consumer Privacy Bill of Rights." The "Consumer Privacy Bill of Rights" is a big win for companies like Google and Facebook because compliance is voluntary. Although it says that consumers "should" have more control over data, the wording appears to be nothing more than a recommendation. Consumer groups have long requested, but were not given, a "do not track" rule that would have prohibited companies from tracking a consumer's Internet usage without his permission. Internet companies that opt in will be policed by the Federal Trade Commission. Does the "Bill of Rights" help? Click here for more.
Your Money
What is my current year required for minimum distribution? Click here for more.
For the Lawyers
Landowners fines for violating municipal code not “debt.” The Seventh Circuit held that fines for violating municipal code did not stem from a consensual consumer transaction, and were not debts under the FDCPA. Click here for more.