Violation Tracker Individual Record
Company:
Santander Consumer USA Holdings Inc.
Current Parent Company:
Banco Santander
Penalty:
$22,000,000
Year:
2017
Date:
March 29, 2017
Offense Group:
consumer-protection-related offenses
Primary Offense:
consumer protection violation
Violation Description:
Santander agreed to pay $22 million in settlement of allegations it facilitated unfair high rate auto loans, with knowledge that many of the loans would default.
Level of Government:
state
Action Type:
agency action
Agency:
Massachusetts Attorney General
Civil or Criminal Case:
civil
Facility State:
Massachusetts
HQ Country of Parent:
Spain
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking
Source of Data:
https://web.archive.org/web/20170418193528/http://www.mass.gov/ago/news-and-updates/press-releases/2017/santander-subprime-auto-loans.html
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
