Nissan's U.s. Loan Company To Pay $4 Million Fine Over Repossessions
WASHINGTON — Nissan's U.S. lending arm agreed on Tuesday to pay a $4 million U.S. fine to settle a government agency's allegation that it improperly repossessed hundreds of consumers' vehicles.
The Consumer Financial Protection Bureau (CFPB) said that between 2013 and 2019, Nissan Motor Acceptance Corp (NMAC), a subsidiary of the Japanese automaker's North American unit, "wrongfully repossessed hundreds of consumers' vehicles despite the consumer having made payments" or taken other actions. Nissan must pay up to $1 million distributed to consumers subject to a wrongful repossession.
- Published in Auto Moto
- Read more...