Affinity Settles Suit Against Dime

Affinity Technology Group Inc., Columbia, S.C., has announced the settlement of its lawsuit againstThe Dime Savings Bank of New York. Terms of the agreement were not disclosed becauseof a confidentiality clause in the settlement. Back in April, Affinity filed a lawsuit against Dime Savings andHudson United Bancorp., Mahwah, N.J., in the United States District Court for the District of South Carolina. Thelawsuit arises out of the company's contract with The Dime relating to the development of a system to process andautomate decisioning of automobile loans. Affinity had alleged breach of contract by The Dime and intentional interferencewith the contract by Hudson United. Dime and Hudson United had an agreement to merge at that time, but the dealcollapsed in the wake of a competing hostile offer by North Fork Bank, Melville, N.Y.