NY-AG v. Santander Consumer USA Inc.

Santander Consumer USA Inc. allegedly violated consumer protection laws by exposing consumers to unnecessarily high levels of risk and knowingly placing these consumers into auto loans that had a high probability of default. According to NY-AG, Santander defrauded desperate consumers by placing them into auto loans the company knew these customers could never afford to pay, resulting in defaults and negative ratings on consumers’ credit reports.

Summary generated from official New York Attorney General press release