Household Says Overcharges Were Just ‘Accidental Errors’
January 21, 2002
Household International subsidiaries have agreed to pay $8.9 million to California regulators to settle allegations of overcharging borrowers. Household Finance Corp. and business units of Beneficial California, Inc. agreed to the settlement without admitting to any wrongdoing. Company officials also agreed to additional customer refunds. Gary Gilmer, president of Household’s consumer lending subsidiary, said the overcharges were a mistake.