Lawsuit Investigation: Credit Union Auto Loan Fraud

Last Updated on October 6, 2020

Important Information

Attorneys working with are no longer investigating this matter. The information here is for reference only. A list of open investigations and lawsuits can be viewed here.

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Case Update

October 6, 2020 – Investigation Closed

At A Glance

This Alert Affects:
Anyone who bought a car from a dealership within the last four years and had their vehicle financed through the credit union “preferred” or “recommended” by the dealer.
What’s Going On?
Attorneys are investigating whether people who signed up for auto loans with a dealership’s “preferred lender” credit union were charged a marked-up interest rate and, if so, whether class action lawsuits can be filed.
How Can a Lawsuit Help?
A class action lawsuit could help auto loan borrowers recover the difference between the dealership’s marked-up interest rate and the lower rate they would have received had they gone to the credit union directly.