Santander Consumer USA Inc. agreed Tuesday to pay about $550 million or more to consumers nationwide to resolve charges that its subprime lending practices exposed them to high levels of risk with auto loans that had a high likelihood of default.
Progressive Leasing will pay $175 million to settle Federal Trade Commission charges it misled consumers about the price of items purchased through its plans. The company markets rent-to-own payment plans at more than 24,000 retail locations.
If you’re unable to make your mortgage payments due to the pandemic, you could lose your home to foreclosure. Federal lenders and some private lenders are offering borrowers temporary help, such as stopping or delaying foreclosure or modifying the mortgage.
Three defendants in a student loan debt relief scheme have been ordered to pay millions to resolve Federal Trade Commission charges that they deceived consumers by promising to reduce or eliminate their student loan debt.
The Consumer Financial Protection Bureau filed a lawsuit in Illinois Monday against Fifth Third Bank, one of the largest banks in the Midwest. The CFPB alleges that for several years Fifth Third, without consumers’ knowledge or consent, added services consumers didn’t approve.
California funeral homes that use a legal loophole to hide prices tend to charge more for basic services than funeral homes that disclose prices. For example: For the basic services fee, the $1,835 median price of price hiders was 36 percent higher than the $1,348 median price of price posters.
Wells Fargo has agreed to pay $3 billion to resolve civil and criminal charges related to its practice between 2002 and 2016 of pressuring employees to meet unrealistic sales goals that led to millions of accounts being created under false pretenses or without consent.
If you’re ordering flowers for Valentine’s Day, be careful you don’t fall for a scam as a last-minute shopper. The Better Business Bureau has received numerous reports from shoppers who turned to online florists for last-minute orders.
Consumers reported losing $201 million to romance scams in 2019 – up nearly 40 percent since 2018. Romance scammers prey on consumers who are looking for love, converting what feels like a budding relationship into an ask for money to help the scammer get out of some manufactured crisis.
