Archive for April, 2009

Coalition Support Letter for Fairness in Nursing Home Arbitration Act (S. 512/H.R. 1237)

Posted in Personal Finance with tags , , on April 30, 2009 by Vicky

March 5, 2009

United States Senate

Washington, DC 20510

Dear Senator:

Binding mandatory arbitration clauses are forcing the elderly and those with disabilities and their families to waive their constitutional right to seek redress in the courts when a nursing home resident suffers harm. These clauses are typically buried in contracts signed by families during one of the most stressful events in their lives – entrusting the care of a vulnerable loved one to strangers – and the clauses effectively compel family members to consent that they will waive the legal rights of a loved one if she or he is injured or dies from neglect or physical abuse while in the facility. The contracts are presented on a take-it-or-leave-it basis, and leave families in the impossible situation of having to sign a contract or forgo nursing home care altogether, a decision that most families are not in the position to make. The undersigned organizations urge you to support the Fairness in Nursing Home Arbitration Act of 2009 (S. 512/H.R. 1237), which would invalidate pre-dispute mandatory arbitration provisions in nursing home, assisted living, and other long-term care facility contracts. Continue reading

Arbitration Fairness Act (H.R. 1020) Introduced Today

Posted in Personal Finance with tags , , on April 29, 2009 by Vicky

Fair Arbitration Now Coalition released the following press release today in Washington as a prelude to the introduction of the Arbitration Fairness Act (H.R. 1020).

Washington, DC – Americans widely oppose corporations using mandatory binding arbitration clauses in the fine print of consumer and employment contracts, according to national polling of likely voters conducted by Lake Research Partners. Continue reading

Household Wealth in Freefall

Posted in Personal Finance with tags , , on April 27, 2009 by Vicky

Here is an excellent article I would like to share with you published by the Center for American Progress.

Family wealth in the United States continues to take a beating as its housing market and financial markets suffer from the 16-month-and-running Bush recession. Household wealth in our country dropped sharply after reaching an $81 trillion peak in June 2007. By the end of December 2008‚ – the last full quarter for which data are available and one full year into the current recession – about $15 trillion in private family wealth had evaporated.

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401(k) Fair Disclosure for Retirement Security Act of 2009

Posted in Personal Finance, Retirement with tags , , on April 26, 2009 by Vicky

401kThe Health, Employment, Labor, and Pensions Subcommittee of the House Education and Labor Committee held a hearing on Wednesday, April 22 on legislation that will provide American workers with clear and complete information about Wall Street fees taken from their 401(k)-style accounts.

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3,400 Texas School District Employees Personal Data Fished From Trash Dumpster

Posted in Fraud, Identity Theft, Personal Finance with tags on April 24, 2009 by Vicky

trash_dumpster1Information from old benefits report were used to make thousands of dollars in purchases according to Irving school officials. District security director Pat Lamb said, “We don’t know if somebody was supposed to shred that information, but it ended up in a dumpster.” The school district’s policy requires following a schedule for properly destroying records.

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America’s Middle Class Still Losing Ground

Posted in Personal Finance with tags , , on April 23, 2009 by Vicky

This is a very interesting article I came across that was published by the Center for American Progress. I think you’ll find some very sobering stats about families.

Authors: Christian E. Weller, Amanda Logan

Middle class economic security is taking an ever harder hit as economic conditions worsen.

America’s middle-class families are still struggling. With the current economic downturn, economists, policymakers, and pundits alike now recognize what many middle-class families have long been feeling: that their financial security is in decline. Although economists so far have not officially announced the beginning of a recession this year, the sharp downturn in economic growth certainly has made things worse for families who have been struggling for years with massive amounts of debt, declining incomes, and rising prices.

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