Hyundai Gets Slapped With $19.2 Million Penalty For Tarnishing Millions Of Customer Credit Reports | Carscoops carscoops
Hyundai Capital America – the captive finance partner of Hyundai, Kia, and Genesis in the United States – has been slammed by the U.S. Consumer Financial Protection Bureau for “widespread credit reporting failures” that harmed millions of customers.
The scale of the problem was massive as the Consumer Financial Protection Bureau found HCA furnished inaccurate information about 2.2+ million customers on more than 8.7 million occasions between 2016 and 2020. Even worse, “In many cases, Hyundai knew it was providing inaccurate information and failed to take reasonable measures” to address the issue.This hurt consumers as HCA would report customers delinquent on loans and leases, despite having been paid on time.
Following an investigation, the Consumer Financial Protection Bureau determined HCA violated the Fair Credit Reporting Act by failing to report complete and accurate loan and lease account information, failing to provide date of first delinquency information when required, failing to modify or delete information when required, failing to have reasonable identity theft procedures, and failing to have reasonable accuracy and integrity policies and procedures.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hyundai And Kia Are Going To The Moon With South Korea's Space Agency | CarscoopsHyundai And Kia Are Going To The Moon With South Korea's Space Agency | Carscoops carscoops
Read more »
Maserati MC20 GT2 Debuts As A Gorgeous Racecar For Customer Racing | CarscoopsMaserati MC20 GT2 Debuts As A Gorgeous Racecar For Customer Racing | Carscoops carscoops
Read more »
Mobile shipyard receives federal grant to upgrade equipmentMobile shipyard Blakeley BoatWorks is among the recipients of $19.6 million disbursed to small shipyards by a federal grant program.
Read more »
Eight Kia Sorento and Telluride SUVs May Have Incorrect Spare Tire Size | CarscoopsThis one's down to an assembly line worker simply putting the wrong tires in the wrong vehicles
Read more »
Silk-FAW Pushing Forward With Plans For Italian Production | CarscoopsSilk-FAW Pushing Forward With Plans For Italian Production | Carscoops carscoops
Read more »