The CFPB filed a lawsuit and issued a consent order against Security National Automotive Acceptance Company for engaging in “illegal debt collection practices,” which primarily loaned to “active duty and former military service members.” The CFPB alleged that “when consumers defaulted on their loans, the company used aggressive collection tactics,” including “telling military customers that failure to pay could result in consequences, including demotion, discharge or loss of security clearance.” The CFPB ordered Security National Automotive Acceptance Company to “refund or credit about $2.28 million to service members and other consumers allegedly harmed and pay a $1 million penalty.”

• The CFPB filed a lawsuit against Security National Automotive Acceptance Company in US District Court for the Southern District of Ohio Western Division. [CFPB v. National Automotive Acceptance Company, case no. 1:15-cv-401, filed 06/17/15]

• The CFPB issued a consent order to Security National Automotive Acceptance Company. [CFPB file no. 2015-CFPB-0027 (Security National Automotive Acceptance Company), filed 10/28/15]

• The CFPB ordered Security National Automotive Acceptance Company to pay “more than $3 million” for allegedly engaging in “illegal debt collection practices.” Security National Automotive Acceptance Company, an Ohio-based lender, primary “loaned money to active duty and former military service member to buy vehicles.” The CFPB alleged that “when consumers defaulted on their loans, the company used aggressive collection tactics,” including “telling military customers that failure to pay could result in consequences, including demotion, discharge or loss of security clearance.”The CFPB ordered Security National Automotive Acceptance Company to “refund or credit about $2.28 million to service members and other consumers allegedly harmed and pay a $1 million penalty.” [“U.S.: Ohio-based auto lender used illegal collection practices,” Associated Press, 10/31/15]