Santander Fined for Credit Reporting Violations

The Consumer Financial Protection Bureau (CFPB) announced today a settlement with Santander bank over credit reporting violations related to the bank’s auto loans.

The consent order was issued in connection with Santander providing erroneous consumer loan data to consumer reporting agencies (CRAs). Santander, a subsidiary of Banco Santander S.A., is a leading originator and servicer of nonprime auto loans and leases. Santander furnishes credit information on the auto loans it services by sending monthly data files to CRAs. The Bureau found that the…

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Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .