Vehicle Lender Fined $4.75 Million for Inaccurate Credit Reporting of Millions of Accounts

1/21/2021

The Consumer Financial Protection Bureau (CFPB) recently fined Santander Consumer USA, Inc., an automobile lender, $4.75 million for its failure to accurately report consumer data to the major credit bureaus (Equifax, Experian, and Trans Union). Santander allegedly reported millions of incorrect default dates and failed to report accurately whether loans were open, paid in full, or charged-off.

According to the CFPB, Santander lacked written credit reporting policies before 2018, which is shocking considering the millions of consumer credit tradelines to which Santander reported. Without admitting fault, Santander agreed to correct the reporting errors and establish and implement written credit reporting policies.

If you are a victim of Santander’s illegal credit reporting, you should contact a Las Vegas credit attorney to discuss your rights under federal law. If you have a wrongful credit reporting claim, you may receive damages of up to $1,000 per defendant, and you do not have to pay for your attorney’s fees or costs out-of-pocket.

Source:https://www.jdsupra.com/legalnews/cfpb-assesses-4-75-million-civil-2680960/?origin=CEG&utm_source=CEG&utm_medium=email&utm_campaign=CustomEmailDigest&utm_term=jds-article&utm_content=article-link

7 Comments

Layla Cole

4/25/2022 09:14:32 pm

Special thanks to HACK VANISH, a professional hacker I’ve been hiring for the past 2 years because, I find him to be an outstanding hacker who has aided me in various hacking related issues, ranging from fixing my poor FICO credit score of about 437 TransUnion, 462 Equifax to 802 plus excellent score, tracking my cheating husband’s phone and currently has helped me recover my lost crypto funds from an online scam investment I recently ventured into, I must confess he is the best, quite brilliant, ever since I discovered him through a positive review I saw on Wallet Hub and reached out to him via Email: HACKVANISH @ GMAIL. COM, and Phone: +1(747) 293-8514, to which he responded in less than 10mins, I have never regretted working with him, he’s been quite helpful and highly efficient. I Would recommend his services to anyone without hesitation.

Diana McGregor

4/17/2023 09:39:07 am

What can I say; I’m really impressed with their service. After using ovation for a while without any impact, I decided to give JERRYLINK CREDIT GROUP a try. I’m blown away with their service! I can’t believe they deleted all my collections and raised my credit score. I’m at 780 credit score and I applied for a credit card which was approved with a credit line of $5k and our dream of owning a house will come true soon. Before this, I’ve never had a credit card limit higher than $300.I strongly recommend their services. You can reach out to them via JERRYLINKGROUP@GMAIL.COM

racheal rick link

4/18/2023 07:31:19 am

I lost my Job few months ago, my wife left me ,could not get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $2000. and I contacted him unbelievable and I was so happy I earn $22,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good trade management system.  For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_fx or Gmail : Bernie.doranfx01@gmail.com

Richard Greene

5/15/2023 07:35:21 am

I was financially unstable, because my store got robbed; I went bankrupt. I tried getting my business back in shape through business loans; but all my applications were declined due to my poor credit score. I was looking for help online; then I came across positive reviews of 760Plus Credit Score on different credit forums. I looked them up and discovered they were highly rated, so I contacted them. I was amazed when I pulled my report after 11days: All my negative collections were cleared and my credit score changed from 590s to 780s. Thanks to you guys and I really appreciate it. If you have similar issues and need fix, reach out to them via 760PLUSCREDITSCORE at GMAIL dot COM

Connie Lux Thompson

6/14/2023 08:57:32 am

What more can I say working with XAPCREDITSOLUTION at GMAIL dot COM has been great. I won a prize and XAP has been fixing my bad credit. He is the TRUTH. He is the GOAT on fixing bad credit. I’ve had great conversations with him. I’ve gotten numerous negative items removed from my report. I’ve gotten school loans removed within 2 weeks as well as credit card debts. My credit score was restored from low 540 to high 700s. It took a very long time for me to get bad credit and I thought it would take time to get everything that’s negative removed but XAP did it in less than a few weeks. I would recommend anyone that really wants to get their credit repaired. XAP will make it happen and assist you in numerous ways to obtain higher credit limits, loans, e.t.c. God bless.

Janil Logan

6/29/2023 02:05:14 am

I strongly recommend JerryLink Credit Group. They helped me so much after already paying Ovation, who just took our money and did nothing for a year. I contacted jerrylinkgroup@gmail.Com, and they immediately showed results; they even guided me on what our best solution for our trade-in for a new vehicle would be with a lower approximate % and not to mention how well they informed you and explained to you everything that's going on with your credit. Huge thanks to Jerry and his crew for a job well done.

Leon Cody Garcia

11/30/2023 10:52:11 am

We will fix your credit; remove all negative items, clear loans, collections and hard inquiries and also raise your score to 760+ ASAP. These were the exact words from M. Jerry when I contacted him via JERRYLINKGROUP at GMAIL dot COM / 6265140620. I decided to give JERRYLINK CREDIT GROUP a try and to my greatest surprise it worked out for me. In less than 11days after all documentation; my score drastically increased to 810 across the three national credit bureaus (Equifax, Experian and TransUnion), I could no longer sight evidence of collections, negative marks, mortgage loan, collections and hard inquiries on my credit report. I honestly appreciate Mr. Jerry for fixing my credit.

CONSUMER LAW BLOG