| Volume 132 Number 5 |
Subscribe to the Newsletter
Forward this news alert to your family and friends
Helpful Links
Texas Consumer Complaint Center
Credit Reports and Identity Theft
Your Guide to Small Claims Court
Contact Us
1-713-743-2168
The People’s Lawyer’s Tip of the Day
Prepaid debit cards are a good way to avoid the interest and fees associated with credit cards, right? Wrong! Many prepaid cards include fees to activate them up, review your account, use an ATM or reload the card. Be sure to shop around and read the terms before signing up for any prepaid card. Click here for more.
FTC Sued for Allowing Car Dealers to Sell Recalled Vehicles with Potentially Lethal Defects
Consumer advocates are outraged by the Federal Trade Commission's decisions in several recent cases that allow car dealers to advertise used vehicles with open recalls as safe. Last year the commission decided the dealers could claim used vehicles with unfixed recalls are "safe" or have been subject to "a rigorous inspection," as long as they disclosed that those recall repairs were not made.
Click here for more.
Your Money
3 Pitfalls to Avoid When Getting Financial Advice. (1) Those claiming to be financial advisors sometimes aren't. If the advisors are paid through commissions by third parties to sell insurance or exotic mutual funds, they may have their own best interests at heart rather than yours. (2) Parental bias can leave children in harm's way. Parents are limited by their own experiences and they can be swayed by emotion when it comes to advising their child. (3) Friends often share successes, but forget about the failures. It's often difficult to ignore someone who brags about a sweet stock pick or huge returns from an investment, but people are less likely to talk about stock picks that fail or the hard work involved on a real estate property. Click here for more.
For the Lawyers
Inaccurate Truth in Lending Act disclosures not sufficient to create standing. A New York district held that even assuming a creditor’s initial TILA disclosures fell short under the statutory requirements, the plaintiff must show an injury in fact in order to have standing under Article III. The plaintiff alleged that the initial disclosures failed to accurately disclose the fees for returned payments and the complete method for the late payment fee including limitations on the maximum fee. While the plaintiff did not allege that she had actually been charged for a return check or a late fee, she contended that the retailer’s deficient disclosure constituted a concrete harm and created a material risk of concrete harm. Kelen v. Nordstrom, Inc., (S.D.NY. Dec. 16, 2016). Click here for more.