| Volume 129 Number 9 |
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The People’s Lawyer’s Tip of the Day
Are over-eager salespeople still calling you? Maybe you forget to sign up for the National Do Not Call List. To keep your name off of their lists follow the link below. Click here for more.
Consumer Financial Protection Bureau at Risk Under New Administration
President-elect Donald Trump says he would “dismantle” Dodd-Frank, the legislation that created the Consumer Financial Protection Bureau. Republicans in Congress have said that they want to weaken or abolish the federal consumer watch dog. Exactly how the administration and Congress would disband Dodd-Frank and the agency is unclear, but possibilities include reorganizing the CFPB’s leadership and getting rid of the agency altogether. Recently, the CFPB has been in the news for its investigation of Wells Fargo for creating fake accounts. The investigation led to a 100 million dollar fine against the bank, the agency's largest fine ever. Click here for more.
Your Money
You may be covered through auto, health, and home insurance, but financial analysts say that many consumers are not covered elsewhere. People tend to be grossly uninsured under life insurance. Five hundred thousand dollars may sound like a lot of money, until you do the calculations. Long-term care insurance is also available in the event you need a caretaker or a nursing home. There are return-of-premium options available if you do not end up using this coverage. Additionally, umbrella insurance is available to cover any gaps of coverage of regular policies, such as those for auto and home. Click here for more.
For the Lawyers
Uber arbitration agreement is valid and enforceable. The Ninth Circuit reversed the district court and ordered Uber drivers to individually arbitrate the claims. The court found that the agreements were not unconscionable, particularly given that drivers were provided with the option to opt out of the arbitration provision. Mohamed v. Uber Technologies, Inc (9th Cir. 2016). Click here for more.