A tentative settlement of three major class-action...

A tentative settlement of three major class-action shareholder suits was announced by Financial Corp. of America, parent company of American Savings & Loan. The settlement calls for a cash payment of $48 million, including $17 million from FCA, the Irvine-based company said in its quarterly report to the Securities and Exchange Commission. The balance will be paid by Arthur Andersen & Co., FCA’s former outside auditor, and by liability insurance for the firm’s officers and directors, FCA said. The civil suits alleged a wide range of securities law violations going back to the beginning of the 1980s.