| Volume 142 Number 78 |
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The People’s Lawyer’s Tip of the Day
Whether you’re planning a weekend getaway or a cross-country road trip, a rental car may be in your future. Comparing prices online can save you a bundle, but make sure you compare the total cost — not just the advertised rate. Added fees can increase the base price dramatically. Click here for more.
Yahoo data breach victims can receive over $350 in cash compensation
Consumers affected by the Yahoo data breaches that occurred between 2013 and 2016 may be able to claim a cash payout from the company, pending approval of a settlement by California courts. In 2013, Yahoo suffered a data breach that is said to have exposed the personal information of all three billion of its users. A second breach occurred the following year, affecting around 500 million accounts. Information compromised in the breaches included names, birthdays, email addresses, encrypted passwords, and more. It wasn’t until two years later that Yahoo finally disclosed the two massive breaches. Now, Yahoo users can file a claim to receive a portion of the $117.5 million class-action settlement related to the breaches. To be eligible to file a claim, users must have: Click here for more.
Your Money
Creditworthiness, or how likely you are to repay a debt, is a major factor in whether you'll be approved for a credit card, an auto loan or a mortgage. It accounts for your debt, your credit history and your ability to pay back loans. Although each lender has its own way of measuring creditworthiness, you should know how to prove it. Click here for more.
For the Lawyers
California limits interest rates on payday loans. California Governor Gavin Newsom signed into law AB 539, a bill to stop outrageous interest rates that payday lenders in California are charging on their larger, long-term payday loans, but warned that the payday lenders are already plotting to evade the new law. California’s new law targets payday lenders that are charging 135-200% and higher on long-term payday loans that put people into an even deeper and longer debt trap than short-term payday loans. Payday lenders were exploiting the prior law that applied to only loans of $2,500 or less by making loans of $2,501 and above. Clear, loophole-free interest rate caps are the simplest and most effective protection against predatory lending. Under the new law, which will go into effect January 1, 2020, interest rate limits will apply to all loans of up to $10,000. Click here for more.