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Settlement With Subprime Auto Lender Getting Money To Affected Hoosiers

Courtesy of Santander Consumer USA

Thousands of Hoosiers are getting more than $200 each through a settlement between the state and a subprime auto lender.

Attorney General Todd Rokita announced the details of Indiana's part of the settlement Tuesday.

Thirty-three states, including Indiana, investigated Santander Consumer USA, the country’s largest auto financing company for customers with poor credit history. They alleged that Santander knew some of its customers were likely to default on their loans and exposed those borrowers to high levels of risk from fees and debt.

As part of a settlement with the company, more than 5,000 Hoosiers will get checks of $261. Additionally, about 1,500 Hoosiers will get their loans waived or forgiven.

And Santander will be required to consider its customers’ ability to repay loans before lending in the future.

Contact reporter Brandon at or follow him on Twitter at @brandonjsmith5.

Brandon Smith is excited to be working for public radio in Indiana. He has previously worked in public radio as a reporter and anchor in mid-Missouri for KBIA Radio out of Columbia. Prior to that, he worked for WSPY Radio in Plano, Illinois as a show host, reporter, producer and anchor. His first job in radio was in another state capitol, in Jefferson City, Missouri, as a reporter for three radio stations around Missouri. Brandon graduated from the University of Missouri-Columbia with a Bachelor of Journalism in 2010, with minors in political science and history. He was born and raised in Chicago.