(WEHT) – Thousands of Tri-Staters will soon receive a check after a multi-million dollar settlement.
34 states, including Indiana, Kentucky and Illinois filed a lawsuit against Santander Consumer USA, the nation’s largest auto financing company.
Indiana Attorney General Todd Rokita says more than 5,000 state residents will get a $261 check following the $550 million settlement with Santander Consumer USA.
The settlement was reached last year, after the company violated protection laws by making auto loans accessible to borrowers who were likely to default on those loans. In addition to providing relief to consumers, Santander in the future is required to factor a consumer’s ability to pay the loan into its underwriting considerations.