UPDATE 1-Santander to settle U.S. consumer watchdog auto finance claims -sources [Reuters]
Banco Santander, S.A. Sponsored ADR (Spain) (SAN)
US:NYSE Investor Relations:
santander.com/csgs/satellite/cfwcsancomqp01/en_gb/corporate/shareholders-and-investors.html
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Source: Reuters
Santander to settle U.S. consumer watchdog auto finance claims: sources | Reuters 4 Min Read WASHINGTON (Reuters) - A unit of European lender Banco Santander SA ( SAN.MC ) has agreed to settle claims by a U.S. consumer watchdog that it misled drivers about the costs of loans and the coverage of related insurance policies, said three people with direct knowledge of the settlement. Santander Consumer USA Holdings Inc ( SC.N ), an affiliate of the Spanish banking group, allowed borrowers to make interest-only monthly payments without explaining that doing so would increase the total cost of the loan, the people familiar with the Consumer Financial Protection Bureau (CFPB) sanction said this week. The lender also failed to explain to customers how an insurance policy known as “guaranteed auto protection” (GAP) would not always cover the costs of replacing a car that was destroyed in an accident. Santander Consumer has agreed to pay a fine and strengthen its consumer protections, said
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SAN
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- ROSEN, A TOP RANKED LAW FIRM, Encourages Banco Santander, S.A. Investors to Inquire About Securities Class Action Investigation – SANGlobeNewswire
- Levi & Korsinsky Reminds Banco Santander Investors of the Ongoing Investigation into Potential Violations of Securities Laws – SANAccesswire
- ROSEN, LEADING INVESTOR COUNSEL, Encourages Banco Santander, S.A. Investors to Inquire About Securities Class Action Investigation – SANGlobeNewswire
SAN
Earnings
- 2/1/24 - Miss
SAN
Sec Filings
- 4/18/24 - Form 6-K
- 4/11/24 - Form 6-K
- 4/5/24 - Form SBSE-A/A
- SAN's page on the SEC website