CFPB v. Toyota Motor Credit Corporation

Toyota Motor Credit Corporation allegedly violated the Consumer Financial Protection Act of 2010 by unfairly and abusively making it unreasonably difficult for consumers to cancel unwanted add-ons, unfairly failing to ensure consumers received refunds of unearned GAP and CLAH premiums, unfairly failing to provide accurate refunds to consumers who canceled their vehicle service agreements, violated the Fair Credit Reporting Act and its implementing Regulation V by falsely reporting customer accounts as delinquent, failing to promptly correct the negative information it had sent to consumer reporting agencies, and failing to maintain reasonable policies and procedures to ensure payment information it sent to consumer reporting agencies was accurate, according to CFPB.

Summary generated from official Consumer Financial Protection Bureau press release