| Volume 144 Number 8 |
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The People’s Lawyer’s Tip of the Day
There’s a virtual “NO PARKING” sign planted smack in the middle of your credit report. It means that debt collectors can’t report your debt — or your supposed debt — to credit reporting agencies without first trying to check with you. Click here for more.
Consumers saved money on new cars last month
New car prices were higher last month when compared to November 2019, but they were lower when compared to October of this year, according to Kelley Blue Book (KBB).
In spite of the coronavirus (COVID-19) pandemic, which flourished with a wave of new cases in November, consumers spent an average of $39,259 on a new set of wheels. That was $499 more than in November 2019 but $480 less than in October. Click here for more.
Your Money
A conventional loan is the most popular type of mortgage in the United States. In fact, conventional loans accounted for roughly 75% of the home loans that closed in October, according to Ellie Mae. Backed by private lenders rather than the federal government, conventional loans can be used to buy or refinance homes. Read on for more about conventional mortgages, including how they work and how to qualify – which could be more difficult during the coronavirus pandemic. Click here for more.
For the Lawyers
Eleventh Circuit vacates FACTA class action settlement. The majority in the Eleventh Circuit vacated a previous ruling affirming the $6.3 million settlement between Godiva Chocolatier and a class represented by Dr. David Muransky. Relying heavily on Spokeo, Inc. v. Robins, the en banc Eleventh Circuit concluded that the class representative lacked Article III standing because he “failed to allege either a harm or a material risk of harm” stemming from the technical violation of the Fair and Accurate Credit Transactions Act. Muransky v. Godiva Chocolatier, Inc., No. 16-16486 (11th Cir. Oct 28, 2020) Click here for more.