Lender settlement to pay heating bills

March 22, 2012

The state is banking nearly $29 million from five mortgage lenders to generate about $4 million annually to help low-income Indiana homeowners pay their winter utility bills. Gov. Mitch Daniels last week signed a bill creating the heating aid. Attorney General Greg Zoeller said Wednesday that the money comes from payments by Ally, Bank of America, Citi, JPMorgan Chase and Wells Fargo banks to settle foreclosure and lending abuses in Indiana.