Reuters is reporting that the CFPB and Santander have reached a settlement regarding allegations that the auto finance lender misled borrowers about the cost of auto loans and related GAP insurance policies. According to the story, Santander has “agreed to pay a fine and strengthen its consumer protections,” but the size of the fine is unknown. The full story is available here.
Consumer Financial Protection Bureau
CFPB to Settle Auto Finance Claims Against Santander
