A U.S. regulator has ordered a Hyundai Motor Company affiliate to pay $19.2 million for repeatedly giving credit-reporting agencies inaccurate information about its customers, including that they were delinquent on loans and leases.
Hyundai Capital America, which serves about 1.7 million drivers of Hyundai, Kia, and Genesis vehicles, agreed on Tuesday to pay a $6 million civil fine and $13.2 million in restitution to current and former customers.
The U.S. Consumer Financial Protection Bureau called the case its largest against an auto servicer under the federal Fair Credit Reporting Act.
According to the regulator, Hyundai provided inaccurate information more than 8.7 million times across 2.2 million accounts from January 2016 to March 2020, tarnishing customers’ credit reports and often resulting in lowered credit scores….