Mass. AG Investigating Santander’s Subprime Lending Business
Massachusetts Attorney General Martha Coakley has ordered Santander Consumer USA to produce documents related to its subprime auto lending business. The AG said she is also looking into the practices of a handful of other auto lenders.
BOSTON — Massachusetts Attorney General Martha Coakley has subpoenaed Santander Consumer USA, requiring that the finance source produce documents related to its subprime auto lending business. The AG is also questioning a handful of other auto lenders, which she declined to name, the Boston Globe reports.
Earlier in December, Santander and six other auto lenders received subpoenas from the New York Department of Financial Services over discriminatory practices that allegedly caused minority car buyers to pay more for auto loans.
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