| Volume 117 Number 3 |
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The People’s Lawyer’s Tip of the Day
Some health fads are pretty harmless or even beneficial. Remember Jazzercise? For now, the actual health benefits of "cyrotherapy," where you are submerged in a vat of supercool gas, are not verified. But with at least one cyrotherapy death, and numerous cases of frostbite, the dangers are real. This appears to be a new industry where safety measures and regulation have not kept up with the fad, so beware. Click here for more.
Wells Fargo to Pay $81 Million for Mortgage Payment Problems
The U.S. Bankruptcy Trustee has ordered Wells Fargo to pay a total of $81 Million to consumers for its failures to properly provide required notices of mortgage payment changes for homeowners in bankruptcy. The failure to provide notice denied homeowners the opportunity to challenge bank errors, and was in violation of the U.S. Bankruptcy Code. Homeowners with Wells Fargo mortgages who were in bankruptcy between Dec. 1, 2011, and March 31, 2015, and who were affected by Wells Fargo’s failure to timely file PCNs and escrow statements, should contact Wells Fargo at 1-800-274-7025 to see if the settlement affects them. Click here for more.
Your Money
With a Federal Reserve rate hike appearing increasingly likely, mortgage rates have started to creep up. While rates remain at historic lows, we can expect mortgage rates to rise with Fed action. Click here for more.
For the Lawyers
Court finds warranty plan ambiguous. The Second Circuit reversed a district court’s finding in favor of the defendant because a warranty plan was unambiguous and did not apply to the first year following purchase. The Second Circuit found the contract ambiguous in several respects relevant to Plaintiff's claim. The court vacated the judgment and remanded the case to the district court with instructions to deny defendant's motion to dismiss. Orlander v. Staples, Inc. (2nd Cir. 2015) Click here for more.