| Volume 74 Number 8 |
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The People’s Lawyer’s Tip of the Day
In Texas, a tenant who moves into an apartment is entitled to a working smoke detector, a peephole in the front door, and proper security on all doors and windows, including a dead bolt on the front door. Click here for more.
Gaping Hole Found in Airport Security
According to the Department of Homeland Security, the Transportation Security Administration (TSA) isn't doing a very good job of tracking security breaches. The investigation came after a series of breaches at Newark Liberty Airport, where a knife made it through screening and a dead dog was cleared without screening for explosives or disease. Between January 1, 2010 and May 31, 2011, the Newark TSA only took corrective action for 42 percent of security breaches. The report also found that TSA does not have a way to centrally gather all incidents, making it very difficult to analyze the data in any meaningful way. Should you expect any changes in airport security? Click here for more.
FBI Opens Inquiry into JPMorgan
In only two trading days, JPMorgan Chase has lose nearly $20 billion in market value. A few days ago, JPMorgan Chase announced a $2 billion trading loss, spurring investors to pummel the company's stock price. The strange series of events has garnered the attention of federal investors and regulators. Representatives for the FBI and Justice Department have confirmed that the inquiry is still its initial stages, but they plan to see if any federal laws were broken. Click here for more.
Your Money
Calculate your estate tax liability. Click here for more.
For the Lawyers
Truth in Lending Act requires only notice of rescission within three-year deadline. The Fourth Circuit held that a lawsuit seeking rescission is timely where the consumer provided notice of rescission within three years of closing but did not file suit until after the three-year deadline had passed. This is the first federal appellate court to hold that a borrower need only send notice of rescission within the three-year period to validly exercise a right to rescind. Click here for more.