WA - $400,000 returned to overcharged borrowers

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WA - $400,000 returned to overcharged borrowers

Tuesday, July 16, 2002

SEATTLE POST-INTELLIGENCER STAFF AND NEWS SERVICES

Refunds totaling nearly $400,000 have been sent to 1,039 Washington borrowers who were overcharged in their real estate loans, the state Department of Financial Institutions said yesterday.

The refunds -- ranging from less than a dollar to $13,442 -- were sent to customers overcharged by Household Finance Corp. and Beneficial Washington, Inc. The payments were in addition to more than $586,000 in refunds sent out by the companies earlier this year.

The refunds resulted from overcharges in real estate loans that were found in an internal audit by the companies and were produced by computer system flaws, the department said. The audit stemmed from an earlier investigation by the state's consumer services division.

http://seattlepi.nwsource.com/local/78691_brfs16.shtml

-- Anonymous, July 18, 2002


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