| Volume 119 Number 6 |
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The People’s Lawyer’s Tip of the Day
Placing a "freeze" on your credit reports is a great way to prevent identity theft. It turns out that it can also protect you from people trying to file fraudulent IRS returns filed on your behalf. With a credit freeze, scammers can't open up a bogus account in your name, which they would need to get the IRS to direct the fraudulent refund. Click here for more.
Goldman Sachs to pay $5.1 Billion to Settle Mortgage Claims
New York-based Goldman Sachs will pay a $2.39 billion civil penalty, make $875 million in cash payments and provide $1.8 billion in consumer relief under an agreement in principle with a U.S. task force, which included the Department of Justice and New York and Illinois attorneys general. The investigation was into the bank’s securitization, underwriting and sale of bonds based upon suspect mortgages from 2005 to 2007, and which allegedly contributed to the 2008 mortgage crisis. Click here for more.
Your Money
After a divorce, it is a good idea to go through your investment accounts, life insurance policies, and pension programs, and make sure that you update your beneficiaries. Click here for more.
For the Lawyers
Arbitration clause in a void contract is still enforceable. Plaintiff purchased a new car from Defendant. Plaintiff filed a lawsuit, alleging that Defendant violated the Missouri Merchandising Practices Act by failing to pass title for her new vehicle. Thereafter, Defendant asked the trial court to enforce the arbitration agreement between the parties. The trial court overruled the motion to compel arbitration on the ground that the contract between the parties was void under Mo. Rev. Stat. 301.210. The Missouri Court of Appeals vacated the judgment of the trial court, holding that even though the sale between Plaintiff and Defendant may be void, that question is for the arbitrator to determine, not the trial court. Ellis v. JF Enters., LLC. Click here for more.