| Volume 143 Number 33 |
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The People’s Lawyer’s Tip of the Day
It can be frustrating to have problems with your computer, especially now that so many people are working from home. But if you get a call from someone claiming to be a Microsoft technician, saying there are viruses on your system, hang up the phone. It’s a scam. Click here for more.
Fed Chairman says economy is deteriorating fast, but rebound is likely
Federal Reserve Chairman Jerome Powell said Thursday that the U.S. economy is in an emergency situation, but it’s likely to bounce back following the coronavirus crisis. In a webcast speech to the Brookings Institution, Powell said the economy is deteriorating “with alarming speed,” but “there is every reason to believe that the economic rebound, when it comes, can be robust.” Segueing into the topic of reopening the economy, Powell said he didn’t want to move too quickly for fear of spurring another surge in coronavirus cases. Powell has taken a more realistic stance than Treasury Secretary Steven Mnuchin, who said he believes it’s possible for businesses to reopen in May. Powell believes July is more likely to be the month for reopenings. Click here for more.
Your Money
Now that so many businesses are closed or suffering big losses because of the coronavirus, many people are interested in how business interruption insurance works and whether it can offer some relief. This type of coverage can help a business continue to pay its bills while the business is closed (or income is down) because of a disaster. Here's more information about what business interruption insurance is, how it works and whether coronavirus claims are covered. Click here for more.
For the Lawyers
The Texas Supreme Court has entered an order (Emergency Order 10) protecting stimulus payments from garnishment until May 7, 2020. The order basically provides that in any action to collect a consumer debt as defined by Texas Finance Code Section 392.001(2), a writ of garnishment under Rule 658 of the Texas Rules of Civil Procedure may issue, but service of the writ of garnishment may not occur until after May 7, 2020. The order also deals with default judgments and receivers. The Texas Supreme Court has also temporarily halted eviction proceedings across the state until April 30 (Emergency Order 9). Click here for more.