Status: closed
Santander (Subprime Auto Loans)
Defendant: Santander
Source: https://oag.ca.gov/news/press-releases/attorney-general-becerra-announces-over-550-million-settlement-against-nation%E2%80%99s
Santander agreed to a $550 million settlement regarding Santander’s auto loan practices. According to the California Attorney General and attorneys general of 33 states, Santander approved loans that it expected consumers to default on and exposed borrowers to unnecessary high risk.