NEW YORK (Legal Newsline) – New York Attorney General Eric T. Schneiderman has announced that Rome Finance Co. Inc. and related entities have given partial compensation from a victim fund to more than 3,000 victims after an alleged debt relief scandal. The total compensation is $3.7 million.
“The financial exploitation of anyone is inexcusable, but to specifically target the brave men and women of our military is truly deplorable,” Schneiderman said. “My office will continue to aggressively pursue predatory lenders and fight to protect the financial well-being of those who sacrifice so much to protect us.”
Rome Finance Co., based in California and Georgia, is a military consumer lender. It financed consumer debts, mainly for computers, gaming systems and other goods from online retailers. In the settlement, Rome Finance and its successor corporations have been liquidated, and $92 million in debt relief has been provided to more than 17,800 affected U.S. service members throughout the globe.
More than $2.2 million in Rome consumer debt has been provided to New York-based service members as part of this settlement.