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CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations

FinStar
Moderator

CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations

Santander Consumer USA was ordered to pay $4.7 million to the Consumer Financial Protection Bureau (CFPB) for violating the Fair Credit Reporting Act (FCRA), the CFPB said in a press release.

 

https://www.pymnts.com/news/cfpb/2020/cfpb-santander-must-pay-4-million-credit-reporting-violations/...

Message 1 of 10
9 REPLIES 9
blindambition
Community Leader
Senior Contributor

Re: CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations

That doesn't hurt as much as the multi SAg and states lawsuit, but certainly well deserved. Thanks for posting. Hadn't seen that yet.

Message 2 of 10
peter1974
Regular Contributor

Re: CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations


@blindambition wrote:

That doesn't hurt as much as the multi SAg and states lawsuit, but certainly well deserved. Thanks for posting. Hadn't seen that yet.


How do we know if we were impacted by this?

Message 3 of 10
tricie17
Frequent Contributor

Re: CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations

They just can not seem to stay out of the news.  It is greed! and bad business.

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Message 4 of 10
tricie17
Frequent Contributor

Re: CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations

Everyone that has used Santander probably has been impacted in one way or another, whether knowing or not knowing. Even if the record was steller, I am sure they did something. And Santander is not the only ones.

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Message 5 of 10
peter1974
Regular Contributor

Re: CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations


@tricie17 wrote:

Everyone that has used Santander probably has been impacted in one way or another, whether knowing or not knowing. Even if the record was steller, I am sure they did something. And Santander is not the only ones.


I wonder if we can use this as leverage to get them removed from our reports.

Message 6 of 10
blindambition
Community Leader
Senior Contributor

Re: CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations


Hi @Peter1974  You might find stuff about your state in this thread. @peter1974 wrote:

@blindambition wrote:

That doesn't hurt as much as the multi SAg and states lawsuit, but certainly well deserved. Thanks for posting. Hadn't seen that yet.


How do we know if we were impacted by this?



There's links to news articles about lawsuit throughout thread. I'd do a google search with Santander and your state, or search the database of your State Attorney General website.

Message 7 of 10
peter1974
Regular Contributor

Re: CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations


@blindambition wrote:

Hi @Peter1974  You might find stuff about your state in this thread. @peter1974 wrote:

@blindambition wrote:

That doesn't hurt as much as the multi SAg and states lawsuit, but certainly well deserved. Thanks for posting. Hadn't seen that yet.


How do we know if we were impacted by this?



There's links to news articles about lawsuit throughout thread. I'd do a google search with Santander and your state, or search the database of your State Attorney General website.


Yes I've been in that thread and unfortunately my state wasn't part of that lawsuit. But this FCRA violation is a different thing and not isolated to certain states.

Message 8 of 10
Jaysee
Regular Contributor

Re: CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations

Very true (unfortunately)... 😒






Message 9 of 10
edwardw818
Member

Re: CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations

I knew it... I heard bad things about Santander. Karma!

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Message 10 of 10
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