| Volume 142 Number 32 |
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The People’s Lawyer’s Tip of the Day
Complaints from consumers help detect patterns of fraud and abuse. The FTC would like to know about your complaint and the Complaint Assistant will help guide you. Click here for more.
Facebook reportedly ready to launch its digital coin
Facebook is moving ahead with plans to launch its own cryptocurrency but it intends to turn over control to outside backers, which the company hopes will reassure financial regulators. That’s the report from The Information, a website covering the technology industry. The site suggests Facebook is willing to give up that kind of control in order to encourage more people to use the digital payment system. The publication quotes Facebook employees who work on the project, called Libra, as saying they have been offered the option of being paid in cash or the cryptocurrency token. According to The Information, the market for the new Facebook cryptocurrency is “developing nations where government-backed currencies are more volatile.” The token will reportedly be mainly used in promoting Facebook’s products such as WhatsApp and Messenger, but the company is also planning ATM-like physical terminals. There will also be sign-up bonuses for merchants who accept Facebook’s cryptocurrency as payment. Click here for more.
Your Money
Picking up a part time job in retirement is an easy way to improve your retirement lifestyle. But before starting a retirement job, you’ll want to run the numbers to see how your Social Security benefits might change. If you start a new job after you begin receiving Social Security benefits, the payments you’re eligible for could change. Read on to understand the consequences of working while receiving Social Security benefits. Click here for more.
For the Lawyers
North Dakota enacts automatic renewal law to protect consumers. The Law defines an “automatic renewal” as “a paid subscription or purchasing agreement [that] is automatically renewed for a period of more than one month at the end of a definite period for a subsequent period.” When presenting automatic renewal agreements to consumers, the Law mandates that merchandise companies: 1) present the terms in a clear and conspicuous manner; 2) provide acknowledgement of the automatic renewal offer; and 3) inform consumers on how to cancel the automatic renewal subscription or agreement through a cost-effective, timely, and simple procedure. If the automatic renewal period binds the consumer for more than six months, towards the end of the initial term, sellers are required to provide the consumer with a clear and conspicuous written notice that she/he can cancel the contract and avoid triggering the automatic renewal. Additionally, automatic renewal periods may not exceed twelve months. Click here for more.