Here is the story from Jalopnick: https://jalopnik.com/subprime-auto-loan-giant-pays-550-million-after-charge-1843561031.
"Thirty-three states and the District of Columbia accused Santander of extending loans that were too big relative to borrowers’ incomes, charging excessive fees and failing to monitor dealership loan-approval practices.
California Attorney General Xavier Becerra said Santander profited by extending high-interest loans to buyers “who were doomed from the start” to default.
The settlement includes $65 million of restitution for consumers. It also involves some $433 million in loan forgiveness, including for customers who have had cars repossessed but still owe money to Santander."
Full disclosure: I have been banking with Santander for more than 15 years (I signed up for an account when they were called Sovereign Bank). I have never taken out an auto loan loan with them, but this is crazy.