Michigan Agency Recovers $4 Million in First Half of 2008

The Michigan Office of Financial and Insurance Regulation (OFIR) recently announced that it had recovered over $4.3 million on behalf of Michigan consumers in the 1st and 2nd quarters of 2008.

$3.6 million of the recoveries involved insurance and securities products and the remaining $738,000 involved mortgage and banking products. The recoveries were based on 3,425 complaints resolved by the agency in the 1st and 2nd quarters.

OFIR consumer protection recoveries include dollars recovered by OFIR for consumers filing insurance, security, bank, credit union and mortgage company complaints.

For more information about OFIR’s consumer assistance, visit: http://www.michigan.gov/dleg/0,1607,7-154-10555_12902—,00.html.

Source: Michigan Office of Financial and Insurance Regulation