In April 2017, the CFPB fined Security National Automotive Acceptance Company (SNAAC) “$1.25 million” for failing to abide by the terms of a previous CFPB consent order with the company. The CFPB previously alleged that SNAAC “made threats to service members about their debts, stating that it would contact commanding officers. Additionally, SNAAC allegedly exaggerated the amount of debt each service member owed. According to the CFPB, SNAAC failed to provide more than $1 million in owed refunds. This inaction on the part of SNAAC affected more than 1,000 consumers.”

• “The Consumer Financial Protection Bureau (CFPB) announced April 26 that it has ordered Security National Automotive Acceptance Company (SNAAC), an auto lender specializing in loans to service members, to pay $1.25 million and make good on a previous consent order after the company allegedly violated a CFPB consent order.” [Mark Iandolo, “Consumer board settles with auto lender for $1.25 million after allegations of violating consent order”, Legal NewsLine, 05/03/17]

• “SNAAC had purportedly made threats to service members about their debts, stating that it would contact commanding officers. Additionally, SNAAC allegedly exaggerated the amount of debt each service member owed. According to the CFPB, SNAAC failed to provide more than $1 million in owed refunds. This inaction on the part of SNAAC affected more than 1,000 consumers.” [Mark Iandolo, “Consumer board settles with auto lender for $1.25 million after allegations of violating consent order”, Legal NewsLine, 05/03/17]