7Oct
CFPB Orders U.S. Bank, Dealers’ Financial Services to Refund $6.5 Million to Military Personnel
Misleading car financing marketing and methods have actually landed U.S. Bank and Dealers’ Financial Services LLC in warm water with all the customer Financial Protection Bureau. The 2 organizations, which operate a course called Military Installment Loans and Educational Services (MILES) that funds subprime automotive loans to active-duty armed forces internationally, were bought because of the CFPB to cover servicemembers $6.5 million for failing continually to properly reveal allotment charges in addition to timing of allotment re payments. (more…)