The Traderszone Network

Published in TZ Latest News 12 March, 2015 by The TZ Newswire Staff

Under The Hood Of A Subprime Lender Accused Of Illegally Repoing Soldiers’ Cars

Santander Consumer — a unit of one of only two banks to receive the dubious honor of failing the Fed’s stress tests yesterday and the market leader in subprime auto lending — allegedly ignored a law that requires lenders to obtain a court order before repossessing cars from members of the military and will now pay $9.35 million to settle the issue with the government.

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