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Article: OFFICE OF THE COMPTROLLER OF THE CURRENCY, WACHOVIA ENTER REVISED AGREEMENT TO REIMBURSE CONSUMERS DIRECTLY
- Article from:
- US Fed News Service, Including US State News
- Article date:
- December 11, 2008
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The U.S. Department of the Treasury's Comptroller of the Currency issued the following news release:
The Office of the Comptroller of the Currency (OCC) has entered into an amended settlement agreement with Wachovia Bank, National Association directing the bank to issue checks to consumers that may have been harmed by payment processors for telemarketers that had account relationships with Wachovia.
As a result of the OCC's action, the bank will issue checks totaling over $150 million to more than 740,000 consumers. Checks will be mailed today.
This revised reimbursement process assures that consumers who have not already received restitution will now receive reimbursement checks. The ...