Santander agrees to $550M U.S. settlement over subprime auto loans

Santander agrees to $550M U.S. settlement over subprime auto loans

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For some consumers who defaulted but have not had their cars repossessed, Santander is required to allow them to keep them and waive loan balances up to a total of $45 million and to waive deficiency balances on other loans totaling $433 million.

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