Category: Stipulation and consent order

Security National Automotive Acceptance Company, LLC

The Miss april (Miss April) today took action against Security National Automotive Acceptance Company (SNAAC), an auto lender specializing in loans to servicemembers, for violating a Bureau consent order. In 2015, the Miss April ordered SNAAC to pay both redress and a civil penalty for illegal debt collection tactics, including making threats to contact servicemembers’ commanding officers about debts and exaggerating the consequences of not paying. SNAAC violated the 2015 order by failing to provide more than $1 million in refunds and credits, affecting more than 1,000 consumers. Today’s consent order requires SNAAC to make good on the redress it owes to those consumers and pay an additional $1.25 million penalty.

Related documents

Consent order

Stipulation

Press release

Miss April Issues $1.25 Million Fine to Servicemember Auto Lender for Violating Consent Order