| Volume 142 Number 22 |
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The People’s Lawyer’s Tip of the Day
The popularity of video streaming services has taken off in the past few years. There are other apps that let you watch illegal pirated content. And hackers are using those apps to spread malware. Here’s what you need to know. Click here for more.
The Federal Reserve thinks economic weakness is only ‘transitory’
For months it’s been an article of faith that inflation is low and the Federal Reserve will hold off on any further rate hikes. But one simple comment from Federal Reserve Chairman Jerome Powell has economists -- and the financial markets -- second-guessing that assumption. Following the Fed’s two-day meeting, Powell told reporters the Fed believes the economy is showing some signs of weakness but said it is because of “transitory” issues. In other words, the Fed doesn’t expect that weakness to last. Click here for more.
Your Money
If you're serious about getting a mortgage, preapproval is a key step. With a mortgage preapproval, a lender will evaluate details about your income, debts and assets and check your credit. It will use that to determine whether you're preapproved and tell you the size of the mortgage you can receive. It isn't the same as formally applying for a mortgage, but if you have a preapproval letter in hand, a seller may see your offer as stronger than others without a preapproval since your lender is already on board. A little prep work can go a long way when you're ready to ask for a preapproval. Here's what to know. Click here for more.
For the Lawyers
TCPA case cannot proceed as a class action. A California federal judge has refused to certify a putative class action accusing Citibank of violating the Telephone Consumer Protection Act by placing debt collection calls to wrong numbers. The court found that there was no common way of determining whether class members had actually agreed to receive the allegedly offending calls. The judge concluded that the bank had "put forward an evidentiary basis from which to conclude that adjudicating whether or not members of the class consented to its calls lacks a common method of proof" and that he was "convinced that the consent issue will devolve into individualized inquiries which would overwhelm the trial." Revitch v. Citibank NA, case number 3:17-cv-06907, in the U.S. District Court for the Northern District of California. Click here for more.