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Lender Will Pay Millions to Settle Predatory Lending Claims

Household International, one of the nation's biggest lenders to people with bad credit, said Friday it will pay up to $484 million to settle claims it duped tens of thousands of mostly poor home buyers across the country with hidden and unnecessary costs. Officials from 19 states and Washington, D.C., had accused Prospect Heights, Ill.-based Household of misrepresenting loan terms and keeping cost information from home buyers.

October 14, 2002 at 12:00 AM

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