Simple Interest Method for LOCs

Richard Insley

Refund, yes, but first bring counsel into the decision-making. Whenever you do a remediation resulting from your breach of a contract, you need to be 100% sure that you will do enough or the right thing for far enough back into the account's history. Since the legality of your contract language, rates of interest, and accrual method are a matter of state law, you should get your attorney to review everything and advise you how best to accomplish a full remediation.