| Volume 125 Number 10 |
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The People’s Lawyer’s Tip of the Day
Many credit card companies used to be able to charge a fee if you didn’t use your card. Under the new law, credit card issuers may no longer charge this “inactivity fee." Click here for more.
Amazon to Market Student Loans with Wells Fargo
Yesterday Amazon and Wells Fargo bank announced a partnership to give Amazon customers private student loans. Wells Fargo will give a discounted interest rate of .5% to members of Amazon Prime Student, the subscription service for college students. However, Amazon will not be underwriting the loans or involved in any way with the origination. Click here for more.
Your Money
The Education Department has announce new enhanced protections and customer service standards to help with federal student loans. The provisions are meant to streamline the process of borrowing money and avoid any confusion in the process. Among the new initiatives is a single web portal where borrowers can find information regarding their loans, payments, and benefits. Additionally, a new complaint system will help borrowers with issues they may have. Click here for more.
For the Lawyers
Filing lawsuit within time to reject arbitration agreement constitutes notice of rejection and tolls the time to give notice rejecting a class action waiver. The Georgia Supreme Court reversed a lower court decision, holding that the terms of the arbitration rejection provision of a deposit agreement did not prevent a class action complaint from tolling the contractual limitation for rejecting that provision on behalf of all putative class members until such time as the class may be certified and each member makes the election to opt out or remain in the class. Bickerstaff v. SunTrust B. Click here for more.