The Buzz about Business Law

Wednesday, July 1, 2009

Bank of America accused of anti-consumer practices

Bank of America accused of anti-consumer practices
http://www.reuters.com/article/topNews/idUSTRE55T5E420090630?feedType=RSS&feedName=topNews&rpc=69

People, who said they were former Bank of America employees, alleged that their supervisors drove them to burden consumers with needless debt and fees, to fatten the bank's earnings and the paychecks of senior executives, and threatened to retaliate if they complained. Some complained their salaries had been too low and that they had to hit quotas.

Tuesday, June 30, 2009

Home Improvement Consumer Protection Act

New law passed in Pennsylvania requires home improvement contractors to register their business with the Attorney Generals office. Contractors have until 7/1/2009 to comply.

http://www.attorneygeneral.gov/hic.aspx

Great website for anyone that will be getting work completed by home improvement contractors in PA. I am getting work completed at my house this summer and was reassured that the contractor that we will be using is certified and registered. This law was passed because there are so many contractors out to take your money and run. It happened to my mechanic. Luckily, he had a great lawyer and did'nt lose his shirt!

Check out the video on the website.

NY STATE MORTGAGE PROBE ALLOWED

http://money.cnn.com/2009/06/29/news/economy/mortgage_discrimination_probe.reut/index.htm

The US Supreme Court has allowed the state of NY to proceed with its probing of unfair lending and higher interest rates towards minorities. While the Supreme Court is not allowing NY State to issue sopenas it is allowing it to "bring judicial enforcement actions." The Supreme Court has reversed an earlier ruling that claimed Federal Regulations already investigate minority lending practices.

THE WHEELS OF JUSTICE TURN SLOWLY

http://edition.cnn.com/2009/CRIME/06/29/scotus.davis.execution/index.html

Here is an interesting article reported from CNN about Davis who is awaiting a stay of execution for supossedly killing a police officer 20 years ago. Nine witnesses have recanted and the courts (both higher and lower) have played tennis with the proceeding of his execution. He is hoping for a stay of execution and a new trial. With the progress we have made in forensic evidence of the last 20 years I do not see how we cannot determine whether we have the actual killer or an innocent man sitting on Death Row. This is the very kind of case that give merrit to the anti-death penalty supporters.

MORE ON THE CREDIT CARDS

http://www.walletpop.com/credit/credit-cards/article/_a/bbdp/what-you-buy-where-you-shop-may-affect/544639?icid=mainmaindl3link3http%3A%2F%2Fwww.walletpop.com%2Fcredit%2Fcredit-cards%2Farticle%2F_a%2Fbbdp%2Fwhat-you-buy-where-you-shop-may-affect%2F544639

Below is an article submitted about credit cards and how they affect small businesses. This one discusses how you as a consumer are being tracked and scored by the credit card companies. They look at where you make your purchases and if there is a consistancy of purchasing at discount places, second hand stores, generic brands then the credit card companies will use that information to lower your credit score. Luckily the Obama Administration is looking into these unfair practices and may be imposing regullations to prevent credit companies from acting on this further. I am beginning to feel a bit uncomfortable with all this "invasion of privacy" or "spying" over every little move we, as a general public, make these days. While some of it may be in our best interests this is one example of how it is not.