| Volume 81 Number 1 |
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The People’s Lawyer’s Tip of the Day
If your credit card is lost or stolen, your liability is limited to $50. But there are different rules for debit or check cards. If you wait more than two days to report the loss, your liability increases to $500. Promptly report any loss or theft.
For more general information about the law, check out my website. Click here for more.
Year in Review: Recalls in 2012
2012 was another big year for big recalls. From Pfizer birth control pills and Lipitor to Mr. Coffee brewers, check out some of the most significant consumer product recalls of 2012. Click here for more.
Fiscal Cliff Looms as New Year Approaches
As soon as the Presidential election ended, political talk immediately focused on the "fiscal cliff." The term refers to the effect of several laws that will lead to tax increases and spending cuts if unchanged. The spending cuts would come under the Budget Control Act of 2011 with corresponding tax increases following the expiration of the Bush tax cuts.
President Obama has implored Congress to reach an agreement before the start of holiday recess next Friday. House leaders have refused to include a small tax increase on the wealthiest Americans, resulting in a very public political battle in Washington.
The lack of a deal and resulting economic uncertainty has led to a significant strain on the job market. If congressional leaders don't reach an agreement soon, economists expect matters to get much worse.
If Congress can't reach an agreement by the end of the year, the fiscal cliff will arrive on January 1, 2013.
To find out what the fiscal cliff could cost you,
Click here for more.
Fannie & Freddie Put Evictions on Hold
Homeowners who have fallen behind on mortgage payments this year may get a brief reprieve. Two of the largest financial service providers, Fannie Mae and Freddie Mac, said this week that they will invoke an eviction moratorium from December 19, 2012 through January 2, 2013 for certain family dwellings. Although families will be able to avoid eviction during that period, it doesn't mean that the foreclosure process will be put on hold.
Fannie and Freddie do not make direct loans to consumers. Instead, they buy loans from lenders to hold or resell as securities.
Are you facing foreclosure? Find out if you'll be included in the holiday eviction moratorium. Click here for more.
Your Money
How much college financial aid can you expect? Click here for more.
For the Lawyers
Online shoppers not bound by arbitration clause. The Second Circuit held that an arbitration provision contained in a confirmation email did not provide customers with sufficient notice to be contractually binding. Click here for more.