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AGs: Lender heaped insurance plans onto unwitting borrowers

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PHILADELPHIA - A Maryland-based lender deceived its loan customers by selling them insurance policies they didn't ask for or know about in many cases, the attorneys general of a handful of states claimed in a lawsuit filed Tuesday in federal court in Pennsylvania.The lawsuit — filed by the attorneys general of the District of Columbia, New Jersey, Oregon, Pennsylvania, Utah and Washington — alleges that Mariner Finance pressured its sales force to "add on" additional insurance coverage for customers seeking personal and other loans."Mariner portrays itself as a community-oriented lender operating small, local branches with strong ties to its local geography.

In reality, Mariner deploys aggressive, high-pressure sales tactics, dictated by a profit-driven model that operates according to the famous maxim articulated in Glengarry Glen Ross: Always Be Closing," the roughly 100-page lawsuit said.The suit seeks restitution for consumers as well as civil penalties and the repayment of profits, among other consequences.Mariner disputed the suit in a statement from founder and CEO Josh Johnson, who said the firm cooperated with the investigation and provided data, documents and testimony "that clearly demonstrates the legality of its products and the vital support they provide to consumers.""Mariner Finance has continuously disputed the claims that the small multi-state coalition has alleged and will continue to defend itself as an important provider of credit options to those who may have limited access to other sources of consumer credit," Johnson said.MORE LOCAL HEADLINESThe suit paints a picture of relentless internal sales goals and prodding messages from managers pushing workers to sell various kinds of insurance, including.

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