Santander S 550 Million Predatory Lending Settlement Yo Today i'm going to talk about the $550 million settlement that santander entered into with over 30 different states to settle claims of predatory auto lendin. Today’s settlement stems from a multistate investigation of santander’s subprime lending practices, which began in 2015. “predatory lending practices like this led to the 2008 financial crisis and harmed millions. i won’t let big corporations manipulate consumers and drive off with your hard earned money,” said attorney general shapiro.
550 Million Santander Court Settlement Are You Getting Money Back On Your о Santander consumer usa inc. has reached a $550 million deal with nearly three dozen states to settle charges of predatory auto lending to low income and subprime borrowers. the settlement. 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. According to the santander car loan website, the $65 million settlement will be used for subprime consumers who have defaulted on loans between jan. 1, 2010 and dec. 31, 2019. santander is required to allow customers to keep their car and waive any loan balance for those who have the lowest quality loans and have defaulted as of dec. 31, 2019. Today’s settlement stems from a multistate investigation of santander’s subprime lending practices, which began in 2015. “predatory lending practices like this led to the 2008 financial.
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