CarMax Is Paying $15,000 For Each Vehicle It Allegedly Repossessed Illegally

According to the settlement, CarMax will pay at least $420,000 in damages to service members and a civil penalty of $79,380 to the United States.
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My car was repossessed after 6 months of missed payments during a hospital stay. I still owe $20,000 on a 5-year loan with 4 years left — am I responsible for the full amount?

Taking on a car loan comes with a lot of responsibility. With Experian reporting that the 2024 average car payment for new and used cars sat at $734 and $525 per month, respectively, it's very easy ...
Automotive News

Hyundai, Kia unit settles U.S. charges it repossessed service members' vehicles

Hyundai's and Kia's American financing arm will pay $334,941 to settle charges it illegally repossessed vehicles belonging to military service members, the U.S. Department of Justice said on Wednesday ...
AOL

A bank created fake accounts, forced clients into unnecessary car insurance and repossessed vehicles when they didn’t pay. Now it has agreed to $20 million in penalties

Fifth Third Bank on Tuesday said it agreed to pay $20 million in penalties imposed by the Consumer Financial Protection Bureau to settle a CFPB investigation into its auto insurance practices, and a ...
Yahoo

South Shore man poses as cop selling repossessed BMW, Audi and Mercedes. He got caught

A Quincy man has pleaded guilty in federal court to a scheme where he took money from people after falsely claiming to be a law enforcement officer selling repossessed vehicles. Recardo S. Beale, 34, ...
KUTV

More people behind on car payments, many surrender cars before they get repossessed

SALT LAKE CITY (KUTV) — High prices, expensive housing and recent job losses are pushing more Americans into financial hardship, and now another sign of strain: more people are falling behind on their ...