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Santander to pay $16M in loan settlement

More than 2,000 Bay State residents who were coerced or pressured into auto loans they couldn’t afford will share $16 million as part of a settlement with Santander Consumer USA Holdings, which knowingly granted loans it knew couldn’t be paid, Attorney General Maura Healey announced yesterday.

“Santander knew what was happening and kept making the loans anyway,” Healey said. “The salesperson would offer a loan with high interest rates. To make the application go through, sales

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