Bankrupt Lender Fremont Settles With Mass., Calif.

Law360, New York (April 20, 2009, 12:00 AM EDT) -- Bankrupt subprime lender Fremont General Corp. has struck deals with the Massachusetts attorney general over allegations of deceptive lending practices and the California insurance commissioner over claims of improper insurance transactions.

Fremont General reported in a filing Monday with the U.S. Securities and Exchange Commission that it had entered the conditional agreements with the two state regulators, which are subject to the approval of the U.S. Bankruptcy Court for the Central District of California.

Under the Massachusetts settlement, reached Friday, Fremont has agreed to pay as...
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