Company Will Pay Restitution to Soldiers

Sep 19, 2017

CitiFinancial Credit Co. illegally repossessed vehicles belonging to active duty service members in violation of the Servicemembers Civil Relieve Act. The company repossessed 164 cars without going to court and asking for court orders. Under the terms of the settlement, CitiFinancial Credit Co. will have to pay $5,000 to every service member who was impacted, and pay $500 plus interest to “compensate borrowers fro lost equity. The company must also “repair service member’ damaged credit.” In more than one case, CitiFinancial pursued repossession of a vehicle knowing that the borrower was on active duty. "Members of our armed forces make extraordinary sacrifices in order to protect and defend our nation, and they should be able to serve actively without fear that their legal rights will be violated," said Associate Attorney General Rachel L. Brand.