Santander Agress to Pay $550M Over Predatory Lending Practice Charges

Santander, has settled with 34 states to the amount of $550 million and will be handing over some titles to consumers and waiving some deficiency balances

Thirty-four states, including Connecticut, California, Florida, New Jersey, New York and Pennsylvania, have reached a $550 million settlement with automotive financing company Santander Consumer USA Inc. to reimburse consumers for alleged deceptive loan practices nationwide. This includes handing over titles and waiving deficiency balances on some loans.

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