Mass. AG Investigating Santander’s Subprime Lending Business

BOSTON — Massachusetts Attorney General Martha Coakley has subpoenaed Santander Consumer USA, requiring that the finance source produce documents related to its subprime auto lending business. The AG is also questioning a handful of other auto lenders, which she declined to name, the Boston Globe reports. Earlier in December, Santander and six other auto lenders ... Read More »

N.Y. Shuts Down Subprime Auto Lender

NEW YORK — The New York State Department of Financial Services (NYDFS) submitted last week a final consent judgment to settle its lawsuit against Condor Capital Corporation, a subprime auto lender based in Long Island, and its sole shareholder, Stephen Baron. Among other violations, the defendants deceptively retained millions of dollars owed to vulnerable borrowers ... Read More »

New York Financial Regulator Uses Dodd-Frank to Sue Auto Lender