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The Consumer Financial Protection Bureau has taken action against Herbies Auto Sales for abusive financing schemes, hiding auto finance charges and misleading consumers. The buy-here, pay-here operation was ordered to pay $700,000 in restitution and a civil penalty of $100,000.
Read More →The CFPB charged the buy-here, pay-here dealer and its affiliated finance company, Universal Acceptance Corp., with providing inaccurate information to credit reporting agencies for more than 84,000 consumer accounts between January 2009 and September 2013.
Read More →A used-car dealership will pay more than $690,000 after a New Jersey Superior Court Judge found that it violated state consumer protection laws and regulations a total of 640 times.
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Last week, the Texas Department of Motor Vehicles Enforcement Division issued a cease-and-desist letter to CarGurus and the state’s dealer association, threatening dealers with fines up to $10,000 a day if the shopping site does not revise its advertising practices.
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First Investors Financial Service Group was charged with providing inaccurate information to credit reporting agencies due to a known computer glitch. The finance company was ordered to pay a fine and identify and correct affected consumer credit profiles.
Read More →An investigation found that South Auto Sales required consumers financing their vehicle purchase to sign a preprinted repossession waiver that violated state law.
Read More →Four affiliated dealerships in western Massachusetts have agreed to pay $175,000 over six months to resolve allegations that they regularly published misleading advertising and failed to follow through on sales prices and promotions.
Read More →Toyota will pay a $1.2 billion financial penalty — the largest penalty ever imposed on an automotive company — for concealing and making deceptive statements about two safety issues affecting its vehicles in 2009, the U.S. Department of Justice announced last week.
Read More →The dealership will pay more than $86,000 to customers who were charged a bogus administrative fee when purchasing a used vehicle, in addition to $50,000 in penalties to the state.
Read More →As part of a settlement for misrepresenting the condition of the cars it sold, Lencore Leasing agreed to pay a $66,000 fine.
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