Legal Content Review
This week saw the submission of a number of articles in Associated Content’s legal genre. Below you will find a sampling of the various submissions with links to each piece. Make sure to stop by and read the entire text of the article and also to look at the other excellent submissions of the past week.
Peer to Peer Lending – The Next Big dot.com Boom? by JR Miller –
JR Miller peels away the layers off a new internet movement that he correctly identifies as something that holds the potential to be a hot button issue in the peer-to-peer movement. By way of background, Miller sets up the peer-to-peer music and video sharing that was the focus of a attention in recent years. With this background, Miller goes on to discuss peer-to-peer financial loans. Apparently some internet sites have started connecting users for the purpose of making loans. The problem with this is such sharing allows for the notions of traditional banking to be bypassed. According to the Miller, most of the borrowers on the site have poor credit that would cause problems at a traditional financial institution. Lenders on the other hand make their loans at higher interest rates as the tradeoff for making loans to borrowers with poorer credit.
The article goes on to point out that lenders on the site sometimes charge up to 35% interest and, perhaps most surprisingly, if a borrower defaults, the lender doesn’t come after them, the web site has a collection agency component that pursues the borrower for payment. Miller does an excellent job of explaining how the process operates as well as posing and discussing the question that the concept begs -how will the banking industry react? Overall, the article does a great job of not only detailing the process, but letting people know that peer-to-peer networks will likely be something that we will continue to hear about for years to come.
DIY Uncontested Divorce in Texas – How to File your own Uncontested Divorce in Texas Courts – Senobia Torres –
Senobia Torres provides a great deal of concise and practical information in her article detailing how to obtain a divorce in
Texas. One thing in particular she does is recommended that people going through a divorce get an attorney. This is excellent guidance and should be considered. Representing yourself in a divorce can cause terrible problems, but Torres is careful to point out early in her article that it is possible to represent yourself and the best scenario for proceeding in a divorce representing yourself is when all issues between two spouses are resolved, or in other words, when the divorce is uncontested.
Torres goes on to provide great detail, in an easy to understand manner, exactly what needs to be done if filing for your own divorce. She even provides advice against paying for forms on the internet and provides a link for free access to the necessary forms online.
Wildcats: SEC Compliance Officers are Getting More Aggressive – New Rules Allow SEC Compliance Regulators to Inspect Due to Violations at Other B/Ds – Jason Van Steenwyk
Jason Van Steenwyk addresses a subject the average American may never consider; however, the article deals with governmental conduct that could potentially have an impact on many people.
The focus of the article deals with investigations conducted by Security and Exchange Commission compliance officer in regard to conduct in investment firms. The term “Wildcatting” has its origins in the practice of oil speculation. If oilmen found oil in one area, they would “wildcat” in other areas under the belief that if there was oil in one area, it likely could be in another. The SEC has started using illegal and/or improper actions at one firm to justify their investigation of another firm under the belief that if it is going on one place, it is likely going on at another.
The article points out that the SEC has never needed probable cause or even reasonable suspicion to investigate a firm. Steenwyk does an excellent job of explaining this concept and leaves the reader with some sage words of wisdom. If one brokerage firm is caught doing something, chances are the SEC will be looking for it elsewhere. The lesson to take from this is that brokerage and investment firms need to be watching the news to see what the SEC is investigating and adjusting their conduct accordingly.
Safe Driving Tips: The Road to Life; Drivers, Passengers and a Blue Truck – Adulthood Driving 101 – Jerrell Ellerbe –
Some things seem obvious, even to the most casual of observers. However much is overlooked and taken for granted, often to the detriment of the individual and those around him. In this article, Jerrell Ellerbe applies just this approach to driving. In the article he points out that many times, no matter how well placed the intention, a slight slip could be the difference between life and death. In addressing this topic, he discusses how having a license is comparable to a license to kill as thousands are injured and die in automobile accidents each day. Ellerbe also discusses some of the leading causes for automobile accidents. He concludes his article with some great guidance that should be followed. Wear your seatbelt!
