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Bail bond companies told to refund years of overcharges

from U.S. News & World Report

Louisiana's Insurance Department says many criminal bail bond providers in New Orleans have been overcharging customers for years and must refund the excess money collected. A civil rights group estimates that a recent directive signed by Insurance Commissioner Jim Donelon could mean the return of an estimated $6 million to as many as 50,000 people. The directive says premiums collected by bail bond companies cannot exceed 12 percent in Orleans Parish under a 2005 state law. He said companies that have charged in excess of 12 percent since that year must find the affected customers and make refunds by June 1. more

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