Auto loan provider United PanAm Financial Corp. said that it will restate three years of financial statements due to a programming error in its accounting system that led it to fail to properly reverse $3.1 million in accrued interest on certain charged-off accounts since 1998.

The error, which the company said resulted from a 1998 programming error in its computerized accounting systems, was uncovered during a review of the company's internal controls for Sarbanes-Oxley compliance.

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