US Bancorp Takes the High Road: NorVergence Leases

“USbancorp has offered to forgive 90% of remaining lease payments for New Yorkers with approval of the NY AG.”

“I'm in NC. We did not receive an invoice this month from USBancorps. We called, finally spoke to someone who said "sit tight don't make any more payments & you'll be contacted regarding settlement". Our AG office has actively pursued LC's of customers in NC.”

“An ex-norv. customer posted that USB stopped sending invoices in Michigan, she called and she was told "no more payments required, we are settling with the AG office in Mich.and will contact you regarding the settlement offer". Our NJ lawyer (in the group action) said we are fortunate to be with an LC such as USB who is offering settlements." So this is all I know. USB told us this morning they will be going state by state offering settlements. We're taking it as good news. Something about offering a per cent of the balance owed after July, 2004.”

USBancorp had no comment to make at this time.