Auto Lender Santander Agrees To Pay $5.5M Over Debt Collection


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BOSTON (AP) — A subprime auto lender has agreed to pay more than $5.5 million to Massachusetts to resolve allegations that it did not provide proper explanations about its auto loan debt collection practices to consumers, the state attorney general’s office said Friday.

The assurance of discontinuance filed in Suffolk Superior Court alleges Santander Consumer USA failed to give certain consumers sufficient information about the calculation methods for any deficiencies left on their auto loans after their cars were repossessed.