Nissan Becomes Most Recent Target of CFPB Ire: Auto Finance Company Enters into $4 Million Consent Order for Alleged Unlawful Repossession Acts
By EsqSocial Corporation 19/10/20
On October 13, 2020, the Consumer Financial Protection Bureau (the “CFPB”) announced that it entered into a consent order (the “Order”) with Nissan Motor Acceptance Corporation (“Nissan”) to resolve allegations that the auto finance company violated the Consumer Financial Protection Act (the “Act”). The Order requires Nissan to pay a $4 million penalty and offer $1 million in restitution to affected consumers....
By: Troutman Pepper