Business Services Industry
Levitz Settles California Complaints over Credit Insurance.(Originated from San Jose Mercury News, Calif.)
Knight Ridder/Tribune Business News, August, 1997 by Smith, Rebecca
Aug. 20--More than 300,000 customers of Levitz Furniture Corp. may be eligible for a refund covering the cost of credit insurance purchased -- knowingly or not -- during the past four years.
The nation's second-largest furniture retailer and two financial partners Tuesday settled a lawsuit that alleged they misled consumers in selling insurance products.
Levitz and partners American Bankers Insurance Co. and General Electric Capital Corp. agreed to pay $10 million to settle accusations by district attorneys from four California counties and the state Department of Insurance that they engaged in "unfair and unlawful business practices" and made "untrue or deceptive statements" in selling credit insurance.
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