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Washington Mutual Lawsuit Reinstated

September 20, 2006|From Bloomberg News

Washington Mutual Inc. borrowers won reinstatement of a California lawsuit that accuses the bank of overcharging for fees to process home loans.

An appeals court in Los Angeles this week overturned a trial court's ruling that the borrowers hadn't done enough to show that the bank might have deceived customers.

The borrowers sued in December 2002, saying Washington Mutual charged hundreds of dollars for underwriting services that cost only $20.

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