U.S. markets closed
  • S&P 500

    3,465.39
    +11.90 (+0.34%)
     
  • Dow 30

    28,335.57
    -28.09 (-0.10%)
     
  • Nasdaq

    11,548.28
    +42.28 (+0.37%)
     
  • Russell 2000

    1,640.50
    +10.25 (+0.63%)
     
  • Crude Oil

    39.78
    -0.86 (-2.12%)
     
  • Gold

    1,903.40
    -1.20 (-0.06%)
     
  • Silver

    24.70
    -0.01 (-0.04%)
     
  • EUR/USD

    1.1868
    +0.0042 (+0.36%)
     
  • 10-Yr Bond

    0.8410
    -0.0070 (-0.83%)
     
  • GBP/USD

    1.3038
    -0.0042 (-0.32%)
     
  • USD/JPY

    104.7200
    -0.1200 (-0.11%)
     
  • BTC-USD

    13,118.68
    +222.09 (+1.72%)
     
  • CMC Crypto 200

    260.05
    -1.40 (-0.54%)
     
  • FTSE 100

    5,860.28
    +74.63 (+1.29%)
     
  • Nikkei 225

    23,516.59
    +42.32 (+0.18%)
     

Nissan's U.S. lending arm to pay $4 million fine over improper repossessions

·1 min read

WASHINGTON, Oct 13 (Reuters) - Nissan Motor Co's U.S. lending arm agreed on Tuesday to pay a $4 million U.S. fine after a government agency said it improperly repossessed hundreds of consumers’ vehicles.

The Consumer Financial Protection Bureau said Nissan Motor Acceptance Corp (NMAC), a subsidiary of the Japanese automaker's North American unit, between 2013 and 2019 "wrongfully repossessed hundreds of consumers' vehicles despite the consumer having made payments" or taken other actions. Nissan must pay up to $1 million to consumers subject to a wrongful repossession.

NMAC said it denied wrongdoing but agreed to settle and takes the agency's "assertions seriously and share their commitment to fair practices for all our customers." (Reporting by David Shepardson Editing by Chris Reese)