#national auto finance
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On October 28, 2015 the Consumer Financial Protection Bureau (CFPB) filed a consent order against Security National Automotive Acceptance Company (SNAAC) to settle charges that the business conducted aggressive debt collection tactics against military service members in violation of the Consumer Financial Protection Act of 2010. The CFPB alleged that the business threatened to contact and contacted delinquent borrowers’ commanding officers, disclosing details about the borrowers’ debts and delinquencies. The CFPB also alleged the business made misleading statements to service members on the potential impact of remaining in debt, the business’s intention to take legal action, and it’s ability to obtain involuntary allotments and garnishments. The business agreed to refund or credit $2.28 million to affected consumers and pay a penalty of $1 million. In a separate Stipulated Final Judgement and Order entered on October 27, 2015 SNAAC consented to change their debt collection procedures. The consent orders were for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law.
BBB has nothing to report concerning Security National Automotive Acceptance Company, LLC s advertising at this time.
BBB file opened: сентября 21, 1993 Business started: 10.01.1986 in DE Business incorporated 03.27.1989 in OH
Licensing, Bonding or Registration
This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
These agencies may include:
Type of Entity
Limited Liability Company (LLC)
Mr. Grant Skeens, CEO Mr. Louis Richards
Customer Contact: Ms. A Andre, Complaint Handler
Principal: Mr. Grant Skeens, CEO
Consumer Finance Loan Companies
Method(s) of Payment
Pre-Authorized Bank Draft, Visa, Master Card, Check over the Phone, MoneyGram Express Payment, Western Union Quick Collect
Alternate Business Names
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Professional Affiliations X
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What government actions does BBB report on?
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