HOUSTON – Smart Financial CU last week filed suit against Open Solutions Inc., claiming the company installed software at the credit union that allowed a member who had lost his line of credit to allegedly borrow $130,000.
The suit, filed in state court, claims that a member who had a $3,000 line of credit, which was suspended in September 2005 because of non payment, had his credit restored after Open Solutions installed new software in July 2006, enabling him to borrow $133,439.
The suit claims the new software allowed those without credit suddenly having available credit stated incorrectly and appearing as if it was unlimited.
An attorney representing Open Solutions declined to comment.
