Hyundai Lender Settles US Credit-Reporting Case for $19 Million

A lending arm of Hyundai Motor Co. agreed to pay more than $19 million to settle a US regulator’s accusations that it reported incorrect information to credit-reporting companies, and failed to correct the problem once it was identified.

Hyundai Capital America will pay $13.2 million to compensate affected customers who were inaccurately reported as delinquent on their loans and leases, as well as a $6 million civil penalty, to settle the Consumer Financial Protection Bureau’s biggest Fair Credit Reporting Act case against an auto servicer. The lender reported incorrect credit information on more than 2.2 million consumer accounts between 2016 ...