| Volume 78 Number 9 |
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The People’s Lawyer’s Tip of the Day
Don't think stopping payment on a check protects you from having to pay when a problem arises. If the check is transferred to another person, you probably will have to pay, even if you have a legitimate reason to not pay the person to whom you gave the check. Click here for more.
Discover Ordered to Refund $200 Million
Since it opened its doors last year, the Consumer Financial Protection Bureau (CFPB) has been busy. Recently, the CFPB conducted an investigation into the practices Discover uses when marketing its credit card products. According to the CFPB, Discover misled consumers by using deceptive language to sell identity theft protection, credit score tracking, wallet protection, and payment protection services. Reports indicate that company telemarketers spoke unusually fast, representing the services as free. In fact, each service added anywhere from $7.99 to $9.99 to consumer credit card bills.
In order to settle charges charges brought by the CFPB and FDIC, Discover
will pay a $14 million fine and refund $200 million to more than 3.5 million consumers.
Anyone who paid for Discover Payment Protection, Credit Score Tracker, Identity Theft Protection, or Wallet Protection, between Dec. 1, 2007, and Aug. 31, 2011, will be eligible for a share of the settlement. Click here for more.
Best Paying Jobs for Bachelor's Degrees
The earnings gap between high school graduates and college graduates is significant. High school graduates in their twenties make an average of $25,484 per year. Conversely, college graduates of the same age make an average of $39,705 per year. Overall, the median annual salary for college graduates is $51,597. Clearly, obtaining a college degree can be greatly beneficial to an individual's potential earnings, but some fields pay much more than others. Various engineering degrees pay an average of $70,000 to $85,000 per year. Medical preparatory programs top the list, with employers paying an average of $100,000 per year.
What are the top 25 highest-paying jobs for bachelor's degree holders? Click here for more.
Your Money
Which is better - term or universal life? Click here for more.
For the Lawyers
Plaintiff sought to represent a class of AmEx cardholders alleging false marketing. However, the arbitration clause in his credit card agreement explicitly waived any right to class arbitration. Notwithstanding plaintiff’s argument that enforcing the arbitration clause would make it impossible for any person to effectively vindicate his substantive rights, the Third Circuit compelled individual arbitration. The court was apologetic, but firm: “Even if [plaintiff] cannot effectively prosecute his claim in an individual arbitration that procedure is his only remedy, illusory or not.” Click here for more.