WASHINGTON -- Nissan Motor Co's U.S. lending arm agreed Tuesday to pay a $4 million fine to settle a government agency's allegation that it improperly repossessed hundreds of consumers’ vehicles.
The Consumer Financial Protection Bureau said that between 2013 and 2019, Nissan Motor Acceptance Corp., a subsidiary of the automaker's North American unit, "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."es.