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AGs: Lender heaped insurance plans onto unwitting borrowers

The top prosecutors in a handful of states say a Maryland lender deceived customers by tacking on insurance coverage to loans, but that borrowers didn't ask for the insurance - or even know about.

Associated Press

Aug 17, 2022, 9:43 AM

Updated 676 days ago

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The top prosecutors in a handful of states say a Maryland lender deceived customers by tacking on insurance coverage to loans, but that borrowers didn't ask for the insurance - or even know about.
The lawsuit alleges Mariner Finance pressured its sales force to add the additional insurance coverage.
The suit seeks restitution for consumers as well as civil penalties and the repayment of profits, among other consequences.
Mariner’s CEO disputed the suit, saying the company documentation to investigators that its products were legal and important for consumers.
The suit was filed Tuesday by the attorneys general of the District of Columbia, New Jersey, Oregon, Pennsylvania, Utah and Washington.


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