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Article: Indiana Enters Settlement with Household International over Predatory Lending.
- Article from:
- The Indianapolis Star (Indianapolis, IN)
- Article date:
- December 17, 2002
CopyrightCOPYRIGHT 2002 The Indianapolis Star. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Chris O'Malley
Dec. 17--Indiana customers of Household International will share $11 million to settle claims that the Chicago lender engaged in predatory lending practices.
Attorney General Steve Carter said the state formally entered into a settlement Monday in a consent judgment filed in Marion Superior Court.
The $11 million, the maximum amount proposed, was contingent on all 50 states agreeing to a $484 million nationwide settlement. Indiana customers, who obtained loans through 37 Household Finance and Beneficial Corp. offices in the state, could have shared as little as $8 million had all states not agreed to the deal.
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