Mississippi Consumers to Receive $1.8M In Santander Auto Loan Settlement

Mississippi Attorney General Lynn Fitch and Santander Consumer USA have reached a $3.7 million settlement — including $1.8 million in restitution for consumers — resolving allegations that the company’s collection practices violated state law.

Consumers who got a loan with Santander between Jan. 1, 2010, and March 1, 2021, and to whom Santander gave a certain internal score at the time they got the loan qualify for this settlement.

Consumers, the Mississippi Attorney General’s Office, nor the settlement administrator will know those internal scores.

Santander allegedly exposed consumers to high risk levels by placing them into Santander auto loans with “a high probability of default,” according to a press release from the attorney general’s office.

Not all consumers who have or had a loan with Santander will qualify for relief. 

Those who qualify will receive a notice from the settlement administrator; those postcard and email notices were sent Aug. 20, 2021.

Consumers who are currently paying on a Santander auto loan should continue to make payments unless and until they hear otherwise from Santander.

Those who are unable to make payments under their loan’s current terms may speak with Santander about options; any changes to the terms will not affect the borrower’s eligibility for relief under the settlement.

The final amount each eligible borrower will receive is not yet known.

In addition to the monetary relief, Santander also has agreed to stop collection efforts on loans extinguished under Mississippi law, according to the press release.

Santander also must take several other steps, including accounting for consumers’ ability to pay their loans, setting reasonable debt-to-income thresholds in order to determine a borrower’s ability to pay, and not requiring dealers to sell products such as vehicle service contracts.

Consumers should be aware Santander, the settlement administrator, and the Mississippi attorney general cannot give tax advice.

No claim form is required for participation in this settlement.

Who’s Eligible

Consumers who got a loan with Santander between Jan. 1, 2010, and March 1, 2021, and to whom Santander gave a certain internal score at the time they got the loan qualify for this settlement.

Potential Award

To Be Determined

Proof of Purchase

No proof of purchase necessary.

Update Address Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Update Address Form Deadline

No deadline

Final Hearing

No final hearing date set

Settlement Website

SantanderMississippiAGSettlement.com

Claims Administrator

Rust Consulting
administrator@MississippiSantanderSettlement.info

Class Counsel

Lynn Fitch
MISSISSIPPI ATTORNEY GENERAL

Defense Counsel

SANTANDER CONSUMER USA