| Volume 99 Number 10 |
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The People’s Lawyer’s Tip of the Day
If you are receiving emails that appear to be from PayPal, a bank, or a credit card company telling you about "a recent charge to your account," ignore them!
Do not click on any link to verify your account or dispute a charge. If you want to check with your credit card company, the phone number is on your card. If you think the notice may be real, wait until you receive your credit card bill and then dispute it. These are scams designed to get your private information.
For more general information about the law, check out my website.
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GM Recalls 29,000 Chevrolet Cruz Vehicles
The recalls continue for General Motors. Earlier this week, the company ordered dealers to stop selling 2013-2014 Chevrolet Cruz vehicles. Now General Motors has issued a recall for nearly 29,000 of the same vehicle to fix a problem with the airbag. According to the recall, the airbag can rupture during inflation, causing pieces to spring across the vehicle and potentially harm passengers.
All recall repairs will be covered under the existing vehicle warranty.
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30 Year Mortgage Interest Rates Go Down
Last week, 30 year interest rates were down to 4.17%. This week, interest rates have dropped again, this time down slightly to 4.14%. Since 2013, an increase in home prices and higher interest rates have made homes less affordable for buyers. A limited supply of homes for sale has kept prices high.
New home sales are currently going at about one-half the rate of a "healthy" market. However, prospective home buyers can still take advantage of near-historically low rates. That is, if a buyer can find a good deal on a new home, now might be the time to make the move.
There has been speculation that the Federal Reserve will reduce its bond purchases, which could lead to an increase in long term interest rates.
Are you in the market for a home? Is now the time to buy?
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Your Money
Are you moving? Use this cost of living comparison calculator!
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For the Lawyers
Arbitration agreement cannot waive action brought under California’s Private Attorneys General Act.
The Supreme Court of California held that the FAA preempts California’s ruling that protected employees from nearly all class action waivers in arbitration agreements. The court, however, ruled that arbitration agreements in employment contracts may still not waive a particular type of joint action: representative actions brought under California’s Private Attorneys General Act.
The court also considered whether its new holding (that the ability to bring a PAGA claim on a representative basis cannot be waived) was preempted by the FAA. It held it was not. The court found that the PAGA claims fall outside the ambit of the FAA, because the FAA is concerned with disputes between private parties, while PAGA actions are really state enforcement proceedings against an employer.
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