"Our men and women in uniform laid their lives on the line for our freedom. Instead of helping them, this company exploited our heroes," said Schuette. "Today's settlement forgives debts for service members who were victimized by Rome Finance, and ensures the company never does business again."
Rome Finance, which also did business as
The multi-state lawsuit filed by
* Failing to accurately disclose finance charges and interest rates;
* Knowingly or recklessly assisting in the practice of financing contracts with inflated prices of goods sold;
* Violation of the Military Lending Act for excessive interest, onerous provisions, and for requiring allotment payment backed by access to a bank account;
* Violations of State and
* Failing to provide required periodic disclosures.
The settlement liquidates Rome Finance and its successor corporations, provides more than
Approximately 200 Michigan service members will be notified that their outstanding debts to the company will be forgiven. Service members will keep all merchandise purchased, but debts associated with the products will be erased.
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