Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Hyundai and Kia unit settles U.S. charges it repossessed service members’ vehicles

by May 10, 2024
May 10, 2024
Hyundai and 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.

According to papers filed in Los Angeles federal court, Hyundai Capital America violated the Servicemembers Civil Relief Act between 2015 and 2023 by repossessing 26 vehicles whose owners had begun paying off their loans prior to active duty.

The Justice Department said the law required the financing arm to obtain court permission before repossessing vehicles.

It cited as an example the 2017 repossession and sale of Navy Airman Jessica Johnson’s three-year-old Hyundai Elantra, after the financing arm determined that she was on active duty but “not deployed.”

Johnson still owed $13,796 on the car, and Hyundai Capital America realized in 2020 it should not have repossessed it, court papers show.

“Members of our Armed Forces should not have to worry about having their cars repossessed while they are in military service,” Assistant Attorney General Kristen Clarke said in a statement.

Without admitting wrongdoing, Hyundai Capital America will pay $10,000 plus lost vehicle equity to each of the 26 service members, and repair their credit. It will also pay $74,941 to the U.S. Treasury “to vindicate the public interest.”

Hyundai Capital America is based in Irvine, California.

“HCA takes pride in supporting our military families,” it said in a statement. “Additionally, we have already taken steps to further enhance our compliance with all SCRA requirements.”

The Justice Department in the last several years settled claims under the servicemembers law against several financing companies, including General Motors, Nissan and Wells Fargo financing arms.

The case is U.S. v. Hyundai Capital America, U.S. District Court, Central District of California, No. 24-03818.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Rua Gold
next post
Ascension Health, largest Catholic hospital chain in the U.S., hit by cyberattack, disrupting patient care

Related Posts

U.S. GDP grew at a 4.9% annual pace...

October 27, 2023

McDonald’s revenue disappoints, as U.S. sales see worst...

February 11, 2025

Apple’s Maryland store workers vote to authorize strike

May 13, 2024

U.S. investigating power-assisted steering failure complaints in older...

August 11, 2023

Walmart-linked Green Dot Bank receives proposed Federal Reserve...

March 2, 2024

IRS has collected more than $520M in back...

January 13, 2024

Mortgage rates jump back over 7% as stronger...

February 7, 2024

Costco sold more than $100 million in gold...

December 16, 2023

Ex-employee charged with stealing $22M from Jacksonville Jaguars...

December 8, 2023

Casino mogul Steve Wynn to pay $10M, cut...

July 28, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Gold’s Meteoric Rise: Can the Price Break US$4,000 in 2025?

    • COB: Repayment of Promissory Note

    • Lo Herma Resource Drilling Timing Confirmed

    • Reinstatement to Quotation

    • Tariff Talks: Swiss Propose Investment in US Gold Refining

    Categories

    • Business (1,395)
    • Investing (2,975)
    • Politics (3,699)
    • Stocks (1,807)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved