Yesterday, auto lender Santander Consumer USA agreed to pay at least $9.35 million to resolve the accusation that it illegally repossessed over 1,100 vehicles from active military personnel. The company is a close partner of the ride-sharing giant Uber, which funnels drivers with low credit to Santander loan officers. It’s not the company’s first brush with the law: the lender holds over $40 billion in car loans and has repeatedly been the subject of criminal investigations into its subprime auto loan arm.
According to the US Department of Justice, Santander violated the Servicemembers Civil Relief Act (SCRA), a consumer protection statute that forces lenders to seek court approval before repossessing assets of active duty soldiers.
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