✉news BusinessFinance first seen 7 h ago, last 3 h ago, peak #6
Auto Lender to Pay $709.5 Million in 41-State Settlement
Original: 41-State, $709.5 Million Settlement with Auto Finance Lender: What Companies Need to Know
An auto finance lender has agreed to a $709.5 million settlement with 41 US states, resolving claims over its subprime lending and debt collection practices. The multistate deal is being flagged as a significant enforcement action in consumer finance, with legal analysts urging companies in auto lending and related sectors to review compliance and risk exposure in light of the outcome.
Why now: The scale of the multistate settlement and its compliance implications for auto finance companies are drawing attention in the industry.
Santander Consumer USAUS state attorneys general
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Evidence
- 41-State, $709.5 Million Settlement with Auto Finance Lender: What Companies Need to Know · JD Supra
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