Kern Schools FCU Settles Suit On LateLoan Fees

BAKERSFIELD, Calif. - (09/07/04) -- Thousands of members of Kern SchoolsFCU may be entitled to refunds on fees for late car loan paymentsunder the settlement of a class action suit announced last week.Under the settlement, the credit union will pay members William andCindi Aseltine, the lead plaintiffs in the suit, $10,000 andmanually recalculate payment histories of thousands of othermembers, contact them and refund overcharges. As many as 10,000member who bought cars through the credit union between 1999 and2003 may be eligible for refunds, according to the plaintiffs'attorney. Only those who made late payments and paid a fee areeligible for the refund.