March 31, 2004
Today, the Legal Assistance Corporation of Central Massachusetts and Fleet National Bank reached an agreement to resolve a lawsuit filed last year on behalf of two former customers who claimed that in January and February 2000 Fleet improperly used Social Security benefits deposited into their accounts to make delinquent loan payments. Fleet maintains that the use of these funds to satisfy an undisputed debt was proper, but it agreed to settle the lawsuit because Fleet decided several years ago that it would not set off delinquent loan payments against Social Security benefits directly deposited into Fleet accounts unless a borrower agrees to apply these amounts towards their loan obligations. Under the terms of the settlement, Fleet agreed to continue this practice.For more information, contact Young Soo Jo at the Legal Assistance Corporation of Central Massachusetts at (800) 649-3718.
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