• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / Business / Iowa shares in settlement with finance company

Iowa shares in settlement with finance company

October 11, 2002 By admin

Iowa is sharing in a 19-state settlement against a finance company for alleged shady practices in handling home loans. Bill Brauch, a spokesman for Iowa’s Attorney General, says Household Finance has agreed to a settlement of 484-million dollars. Brauch says they believe the company misrepresented loan terms, charged too costly prepayment fees, and forced consumers to buy costly loan insurance.Brauch says roughly one-thousand Iowa customers of Household will get some part of the settlement. He says they’ll share one-point-three million dollars, and possibly more. Brauch says customers don’t need to contact the A-G.He says it will take several weeks to finalize the agreement and determine who’s eligible for a refund. Brauch says this is the largest settlement ever in a federal or state consumer fraud case. He says it should send a message to all lenders regarding the way they do business. For more information on the settlement, surf to the Attorney General’s website.

Share this:

  • Facebook
  • Twitter

Filed Under: Business, Crime / Courts

Featured Stories

Exhibit features lesser known works of Grant Wood

Testing finds 21 new CWD cases in deer

It may become a crime in Iowa to use fake urine in workplace drug tests

February trending 18 degrees below average temperature

Iowa House Education Committee votes to end tenure at UI, ISU, UNI

TwitterFacebook
Tweets by RadioIowa

Drake falls to No. 20 Loyola in MVC Championship

Confusion at MVC Tournament as UNI exits prior to quarterfinal round game

Iowa State looks to avoid winless Big-12 season

New look and new format at girls’ state basketball

Youngstown State takes action against assistant football coach

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2021 ยท Learfield News & Ag, LLC