Monday, November 9, 2009

The Recession still Looms for Lawyers

According to the majority of poll takers in our latest poll, the recession is not over--fifty percent of respondents have lost their job and remain unemployed. An additional 33% of respondents have somewhat recovered: they have found employment, but their new job is not as good as their last job.

Unfortunately, the poll demonstrates, to a certain extent (at least in the NY legal market), many people have not recovered from the recession. The Am Law Daily confirms that the law profession continues to be financially rattled in a recent article entitled "Legal Sector Loses 5,800 Jobs in October" see the link below for the entire article.

http://amlawdaily.typepad.com/amlawdaily/2009/11/legal-sector-loses-5800-jobs-in-october.html

Friday, November 6, 2009

No Red Flags Rule for Lawyers

On October 29, the U.S. District Court for the District of Columbia ruled that the FTC's Red Flags Rules cannot be enforced against lawyers, saying that the FTC's interpretation of the Fair and Accurate Credit Transactions Act overreaches and its application to lawyers is unreasonable.

NYCLA organized a CLE Program on November 5 which discussed the decision and its significance for the independance of the legal profession.