Compliance

Santander Settles CFPB Charges for $11.8M

Santander Consumer USA Inc. will pay $11.8 million to settle charges related to the sale of its S-GUARD GAP product and TRIPP interest-only payment plan. - Photo by Mike Mozart via Flickr

Santander Consumer USA has agreed to pay $9.29 million in restitution and $2.5 million in fines to settle claims leveled by the U.S. Consumer Financial Protection Bureau over the finance source’s GAP and interest-only payments programs.

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