NEW ORLEANS, La. (AP) - Louisiana's Insurance Department said 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 estimated that Thursday's 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 said 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.