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Violation Tracker Individual Record

Company: Security National Automotive Acceptance Company
Penalty: $3,280,000
Year: 2015
Date: October 28, 2015
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: Servicemembers Civil Relief Act
Violation Description: The Consumer Financial Protection Bureau filed an administrative order against Security National Automotive Acceptance Company (SNAAC), an auto lender specializing in loans to servicemembers, for engaging in what the agency called illegal debt collection practices. The order required the company to refund or credit about $2.28 million to servicemembers and other consumers who were allegedly harmed, and pay a penalty of $1 million. A separate court order banned SNAAC from using aggressive tactics, such as exaggeration, deception, and threats to contact commanding officers, to coerce servicemembers into making payments.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.