| Volume 81 Number 4 |
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The People’s Lawyer’s Tip of the Day
Federal law allows you to withhold payment from your credit card company if the goods you purchase never arrive. But you must act quickly. Under the law, you must dispute your bill within 60 days of when it is sent. Read the back of your credit card statement for details on disputing a debt. Wait too long and you lose you rights!
For more general information about the law, check out my website. Click here for more.
HSBC Bank to Pay $1.9 Billion in Fines
After a
settlement with The Department of Justice and U.S. Treasury, HSBC will pay a record $1.92 billion on charges of laundering money for the Mexican drug cartel and other illegal transactions with Burma, Iran, Sudan, Cuba, and Libya. During the five-year investigation, the team of prosecutors reviewed nine million documents. There will be no additional charges or penalties against the bank if certain requirements are met. According to the Department of Justice, individual prosecutions have not been ruled out.
Click here for more.
Fiscal Cliff: Sides Trade Proposals
The White House and Congress continue to trade proposals to prevent the "fiscal cliff." The White House made an offer Monday, which was countered by House republicans on Tuesday. In the latest counter, the White House offered to reduce new revenue from $1.6 trillion to $1.4 trillion. House Speaker John Boehner has been hesitant to allow for a tax increase on the wealthiest Americans. President Obama has insisted that there would be no tax increases for middle income Americans. If the sides don't reach a deal, there will be significant tax increases for all Americans.
Will the republicans and democrats reach a deal before the deadline? Click here for more.
Your Money
What will it take to reach your savings goal? Click here for more.
For the Lawyers
Debtor not required to use Social Security Income in repayment plan. The Tenth Circuit held that a Chapter 13 debtor is not required to include Social Security income in the calculation of his projected disposable income. Click here for more.