The U.S. Consumer Financial Protection Bureau (CFPB) has fined Hyundai Capital America millions of dollars for giving credit-reporting agencies wrong information that lowered customer credit scores, and incorrectly reported some loans and leases as “delinquent.”
The CFPB imposed a civil fine of $6 million, and ordered the Hyundai affiliate to pay another $13.2 million in restitution to customers, according to Reuters. Hyundai Capital America agreed to pay the sum totaling $19.2 million, in what the CFPB says could be the largest case “against an auto servicer under the federal Fair Credit Reporting Act.”
Read Article