Santander Consumer Reaches 550m Settlement With State Ags

Santander Consumer Reaches 550m Settlement With State Ags Santander consumer reaches $550m settlement with state ags. santander consumer usa will pay $65 million to states and forgive hundreds of millions more in consumer debt as part of a settlement with a group of attorneys general over practices in its subprime auto lending business. the attorneys general, representing 33 states and the district of. Santander consumer reaches $550m settlement with state ags. by laura alix. may 19, 2020, 5:30 p.m. edt 2 min read. santander consumer usa will pay $65 million to states and forgive hundreds of millions more in consumer debt as part of a settlement with a group of attorneys general over practices in its subprime auto lending business.

Officials Car Lender Santander Reaches 550m Multi State Settlement вђ Santander consumer usa, the largest subprime car lender in the us, has agreed a $550m settlement to resolve claims of deceptive lending. practices brought by a coalition of state authorities. the. Published 3:01 pm pdt, may 19, 2020. sacramento, calif. (ap) — thirty four attorneys general announced a $550 million settlement tuesday with auto loan financing company santander over allegations it knowingly targeted consumers who were likely to default on its loans. consumers who defaulted on their loans from the company as of last year. Santander consumer usa, the consumer lending arm of spain’s banco santander, reached a $550 million agreement to settle charges from 34 attorneys general that it made auto loans it knew low income and subprime borrowers could not pay. the lender is set to pay consumers $65 million in restitution. but the bulk of the settlement — $478. Thirty four attorneys general announced a $550 million settlement tuesday with auto loan financing company santander over allegations it knowingly targeted consumers who were likely to default on.