Credit Union News

The Latest Industry News Coverage

Man's hands signing paperwork

CFPB Sues ‘USASF Servicing’ for Disabling Vehicles and Billing

The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit in federal court against auto-loan servicer USASF Servicing (USASF) for a host of illegal practices that have allegedly harmed individuals with auto loans.

The CFPB states that these practices include wrongfully disabling borrowers’ vehicles, improperly repossessing vehicles, double-billing borrowers for insurance premiums, and failing to return millions of dollars in refunds to consumers.

The bureau is seeking to obtain redress for consumers and civil money penalties and stop any future violations. You can read more here.

Related News

Become an Industry Supporter

Get membership information

Please contact me about compliance

Contact me about Credit Union Solutions

Education & Professional Development