| Volume 118 Number 8 |
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The People’s Lawyer’s Tip of the Day
The good news is that each generation of smartphones gets better, with sharper screens, higher quality cameras, and new useful apps. The bad news is that all of these new features use more data, and keeping track of your data usage is important to make sure you don't get hit with data overage charges that are a bad deal. This link has tips on how to monitor your usage, and how to pick the right cell phone plan for your data needs. Click here for more.
FDA Recommends Ban on Minors Using Tanning Beds
In a move to reduce skin cancer associated with tanning beds, the FDA has proposed a ban on tanning bed use by children under 18. The announcement follows years of prodding by dermatologists and medical groups for bolder action on indoor tanning, citing rising rates of skin cancer among teens and people in their twenties, especially women. The President of the FDA, Dr. Sandra Hassink, said "studies show that beginning tanning before age 35 can increase the risk of developing melanoma, the most deadly form of skin cancer, by 75 percent. Alarmingly, the earlier a teen begins to tan indoors, the more hours of UV exposure he or she will accumulate over a lifetime, increasing the chances of developing melanoma and other skin cancers." Click here for more.
Your Money
What does the Fed's recent rate hike mean for you? Not much. Despite public perceptions, the hike is unlikely to have much, if any, effect on consumer interest rates, mortgage rates, or savings account or bond rates, and what little effect it may have will take months to show. Click here for more.
For the Lawyers
Truth in Lending 2009 amendment does not apply retroactively. Plaintiffs filed a putative class action against Wells Fargo and U.S. Bank, alleging federal and state law claims arising out of the modification of the deed of trust for plaintiffs' home. At issue was the retroactivity of 15 U.S.C.1641(g), a 2009 amendment to the 1968 Truth in Lending Act (TILA). Section 1641(g) requires a creditor who obtains a mortgage loan by sale or transfer to notify the borrower of the transfer in writing. The Ninth Circuit held that section 1641(g) does not apply retroactively because Congress did not express a clear intent to do so. The court noted that its holding is consistent with numerous district court decisions. Talaie v. Wells Fargo Bank (9th.Cor. 2015). Click here for more.