WABASH VALLEY, Ind. (WTHI) - Thousands of Hoosiers will receive relief in a settlement with a sub-prime auto financing company.
Thirty-three states took part in a lawsuit against Santander Consumer USA Inc. The lawsuit alleged the company violated consumer protection laws.
Specifically, Santander made auto loans accessible to disadvantaged borrowers who had a high probability of default.
The total amount of the settlement is $550 million. In Indiana. more than 5,000 people will receive a $261 check.
Fifteen-hundred Indiana residents also had their loans waived or forgiven.