State
Minnesota
Minnesota
Interstate Auto Group, Inc. aka. CarHop, and Universal Acceptance Corporation
Enforcement, Credit Reporting, Auto Loans
The CFPB “ordered CarHop to pay a $6.5 million penalty for providing inaccurate, damaging customer information to credit bureaus involving some 84,000 accounts.” The CFPB alleged that, for instance, CarHop would “report vehicles as repossessed when customers returned cars under the company’s 72-hour, full-refund return policy.” CarHop did not admit wrongdoing in agreeing to the settlement. They claimed it was to “move beyond the distraction of the investigation.”
Inactive or Resolved