Santander Settles Predatory Auto Lending Claims For 550 Million Wsj 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. 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 S 550 Million Predatory Lending Settlement Youtube 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. 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. 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. Santander consumer usa holdings inc said on tuesday it had agreed to make changes to its underwriting practices as part of a $550 million settlement with 33 states and the district of columbia.
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