Business Briefs: Drivers to receive $7.4 million in relief on high interest loans
Drivers to receive $7.4 million in relief on high interest loans
Two national auto lenders have agreed to pay $7.4 million in relief to thousands of state consumers over allegations they charged excessive interest rates on their subprime auto loans, Attorney General Maura Healey has announced.
American Credit Acceptance LLC and Westlake Services LLC have agreed to eliminate interest on certain loans they purchased that allegedly included excessive interest rates due to the inclusion of so-called GAP coverage. They have also agreed to forgive outstanding interest on the loans and reimburse customers for the interest they have already paid on their debts.
The Attorney General's Office has identified approximately $1.7 million in relief for ACA loans, and $5.7 million in relief relating to Westlake loans.
More than 2,000 state consumers will receive approximately $3,000 in relief.
Tucker elected to Ventfort Hall Board of Directors
Elena Tucker was recently elected to the Ventfort Hall Mansion and Gilded Age Museum's Board of Directors.
Tucker has been vice president of human resources and payroll at Adams Community Bank for the last three years. Before that she worked for GTE Sylvania in KB Toys home office in Pittsfield and as human resources manager for Lenco Industries. She lives in Pittsfield with her husband, Michael.
MMN Berkshire regional meeting at BCC March 29
The Massachusetts Nonprofit Network will hold its 2016 Berkshire Regional meeting on Tuesday, March 29 at Berkshire Community College. The hours are 10 a.m. to 1:30 p.m. Admission is free. Information: 1berkshire.com.
TALK TO US
If you'd like to leave a comment (or a tip or a question) about this story with the editors, please email us. We also welcome letters to the editor for publication; you can do that by filling out our letters form and submitting it to the newsroom.