ITT settled Minnesota’s charges of loan “packing.”

The out-of-court settlement could return more than $7 million to Minnesota residents who purchased certain ITT insurance policies and an ITT consumer product buying service. Minnesota, as well as Iowa, Wisconsin and Colorado, had accused ITT of deceptively “packing” insurance policies into consumer loan agreements, often without the customer’s consent. In agreeing to the settlement, ITT did not admit any wrongdoing.