Posted at 2:00 p.m., Monday, January 23, 2006
BUSINESS BRIEFS
Hawai'i consumers share in settlement
Advertiser Staff
Hawai'i consumers will receive about $1.5 million in restitution from Ameriquest Mortgage after the lender agreed to settle charges that it engaged in predatory lending practices, according to the Department of Commerce and Consumer Affairs Office of Consumer Protection.In addition, the state government is expected to receive $310,000 from the settlement to pay for costs associated with the investigation.
Ameriquest, the nation's largest sub-prime lender, has agreed to pay $295 million to consumers across the country and make sweeping reforms to settle allegations of unfair and deceptive lending practices. The company also will pay $30 million to governments in 49 states and the District of Columbia to pay for investigation costs.
"We believe Ameriquest engaged in a series of unfair and deceptive practices by using high-pressure sales tactics to boost commissions, said OCP Executive Director Stephen Levins.
Under the settlement distribution plan, Hawai'i Ameriquest customers who obtained mortgages form Jan. 1, 1999 through Dec. 31, 2005 will be sent forms by the state to process their claims.
ATA to expand Hawai'i-to-Mainland flights
ATA Airlines today outlined plans to offer a number of new daily nonstop flights between Hawai'i and the Mainland.
Starting April 27, ATA will offer daily nonstop flights to Oakland International Airport from Honolulu, Maui, and Hilo. With this expansion, the airline will move its operations from San Francisco International to Oakland International.
ATA will be the only airline to offer nonstop service between the city of Hilo on the Big Island and the Mainland, with seven weekly round-trips between Hilo and Oakland, and the only carrier to offer a daily nonstop flight from Honolulu to Ontario, Calif.
