Articles

Businesses may be in more trouble for data breaches

Two years ago, retailer Neiman Marcus suffered a data breach that resulted in some 350,000 customers having their credit card information compromised. About 9,200 of those customers ended up with fraudulent credit card charges. That’s bad enough – but Neiman Marcus was then sued in a class action by customers who didn’t have any fraudulent charges on their cards. These customers said Neiman Marcus should nevertheless compensate them for the time and money they had spent

‘Comparative advertising’ was close to the line but okay

The Schick razor company recently complained to the National Advertising Division (an ad industry regulatory body administered by the Better Business Bureau) about ads created by the Dollar Shave Club. Schick believed the ads accused name-brand razor companies of engaging in price-gouging and ripping off customers by charging extra for useless features. One Shave Club ad showed a razor customer at a drugstore receiving a “free gift” of a kick in the groin along with his

Supreme Court gay marriage ruling affects employee benefits

The U.S. Supreme Court’s recent decision extending same-sex marriage to every state will have a big effect on many employee benefit programs. Prior to the ruling, most states (and the federal government) recognized same-sex marriage. If all of your employees live in states that previously recognized gay marriages, then no changes are required. But if any of your employees live in previously “non-marriage” states, then the ruling will make a difference. If some of your workers

Social media: New issues for business

Social media is a relatively new field, and the law is just beginning to catch up with all the issues that are being raised for businesses. Here’s a quick checklist of concerns. It’s by no means exhaustive, which is why a thorough legal review of a company’s social media practices is always a good idea. Do you look at employees’ (or job applicants’) personal social media accounts? These days, many employers want to keep tabs on

New rules may limit foreclosures

In the last few years, Fannie Mae and Freddie Mac have been selling many distressed mortgages to private investors instead of going through the process of foreclosure themselves. A number of people have complained that these investors have treated some homeowners roughly. Now, new government rules have been issued that are designed to restrain investors and give homeowners more of a chance of staying put.

If you’re thinking of buying a home in another country…

Some well-off people are thinking of buying a vacation or retirement home abroad, now that the dollar is strong and the real estate market has become depressed in many parts of Europe and elsewhere. If you’re considering such a move, be aware that the rules of real estate can be very different in other parts of the world.

IRS explains mortgage interest deduction for multiple owners

As a general rule, you can deduct home mortgage interest on your federal income taxes, as long as you itemize deductions. This sounds simple enough, but it can get complicated if a home is owned by more than one person. Recently, the IRS provided an explanation of how this works. According to the IRS, the key question is how much interest each owner actually paid in a given year – not what percentage of the home

Co-signing a student loan can hurt your credit score

Many parents who co-sign a private student loan for a child don’t realize that it can affect their own credit score if they later apply for a mortgage. Having parents co-sign loans has become more popular lately, because it can make it easier to get a loan approved or to get a lower interest rate. Some 94% of private student loans were co-signed in the last academic year, up from only 77% six years ago.

Condos lag in housing upturn

The recovery in the housing market has produced higher prices for single-family homes along with all-time record-high apartment rents. But condominiums have been late to the party. The median sale price for an existing single-family home in the U.S. is now back up to what it was in 2005-2006, before the housing crisis. But the median sale price for an existing condo is still more than $15,000 below its earlier peak.

Do I really need title insurance?

A home is the largest purchase most families ever make. The vast majority of people wouldn’t hesitate to buy homeowner’s insurance to protect their investment against fire, theft, tornadoes, and so on. Title insurance protects people against losing their home in a different way – through discovering that they don’t actually have all the ownership rights they thought they did. How could such a thing happen? There are a number of ways. For instance, it might

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