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September 29, 2015 - Industry News

Fifth Third Bank to Cap Dealer Markups

The CFPB and DOJ announced two actions against Fifth Third Bank on Monday, one of which requires the finance source to pay $18 million in restitution to minority auto loan borrowers, as well as limit its dealer partners’ ability to markup interest rates on auto loans.

Tags: Auto Lending, CFPB, Consumer Financial Protection Bureau, Deceptive Advertising, Department of Justice, discrimination, Fifth Third, Fifth Third Bank

May 15, 2014 - Industry News

DOJ Investigating Fifth Third Bank’s Auto Lending Practices

Photo via Flickr.

Fifth Third Bancorp revealed in a regulatory filing this month that its indirect auto loan portfolio is being examined by the Department of Justice to determine whether the finance source engaged in discriminatory practices.

Tags: Auto Loans, CFPB, Consumer Financial Protection Bureau, Department of Justice, discrimination, Fifth Third, Investigation

September 3, 2013 - Industry News

Fifth Third Bank Loses $27M in Financing Scam

The bank was one of 20 lenders allegedly defrauded by a former dealer, his accountant and a team of fake buyers.

Tags: auto scam, Fifth Third, fraud

September 30, 2010 - Industry News

SNAAC Receives $200 Million Credit Facility From Wells Fargo, Fifth Third

Security National Automotive Acceptance Corporation (SNAAC) has secured a $200 million revolving credit facility from Wells Fargo Preferred Capital and Fifth Third Bank.

Tags: Credit, Fifth Third, Vehicle Sales, Wells Fargo

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