Las Vegas-based First National Bank of Marin has settled a class-action lawsuit and has reached a final agreement with the OCC in regard to the company’s solicitation and marketing materials for its sub-prime VISA cards. First National agreed to reimburse certain customers who applied for the Bank’s credit card between July 27, 1996 and May 31, 2001 and who incurred specific charges, including enrollment fees and certain finance charges. Bank officials have agreed to set aside a reserve of not less than $4 million to cover consumer claims from both the class-action settlement and the OCC agreement. The Bank says it did not admit to any wrongdoing and believes the OCC lacks legal authority to enforce the FTC Act. First National also says the OCC’s interpretations of the FTC Act are incorrect and contrary to the interests of both financial institutions and consumers. At the end of the third quarter, the issuer had $230 million in receivables and approximately 550,000 accounts, according to CardData ([www.carddata.com]).