Finance company agrees to pay $484 million in lending case
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Posted 12:22PM on Friday, October 11, 2002
SACRAMENTO, CALIFORNIA - One of the nation's largest lenders will pay $484 million -- including nine million in Georgia -- to settle allegations it cheated consumers on home loans. <br>
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Household International Incorporated is accused of overcharging borrowers on home equity and similar loans in what officials called a ``pervasive pattern of abusive lending practices.'' <br>
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State Attorney General Thurbert Baker says more than 15,000 Georgians have taken out real estate loans from Household since 1999. <br>
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Household settled a narrower complaint with California in January but subsequent settlements in other states led to the nationwide settlement.