Just an update for anyone who's curious. The entire process took about 2 weeks. After it was completed she contacted me and explained that they were imposing a limit of $6500 which would be reviewed for removal in 90 days. In this economy, no sweat off my back. They handled the situation very professionally and I'm back to earning my points. :-)
Congrats. I was bent out of shape when they asked for my returns. Finally once I gave it to them they are very fair in treating my accounts. Though they imposed hard limits on my accounts, they gave me more than what I normally spend.