Mich. regulatory agency recovered millions in '10

LANSING (AP) -- Michigan's Office of Financial and Insurance Regulation (OFIR) says it recovered more than $27 million in 2010.

The agency also said in a statement Tuesday that it has recovered more than $143 million since its creation in 2000.

OFIR says $19 million of last year's recoveries involved mortgage and banking issues. The other $8 million was related to insurance and securities matters.

The 2010 recoveries were a result of more than 3,000 complaints resolved by the agency, whose consumer assistance staff answered more than 100,000 consumer calls during the year.

----------

Online:

Office of Financial and Insurance Regulation: http://www.michigan.gov/ofir

Published: Thu, Jan 13, 2011