AG Rokita Settles with Vehicle Loan Originators for over $250,000

  • Indiana AG Todd Rokita settled with Integrity Acceptance Corp. and related entities (collectively, “Integrity Acceptance”) to resolve allegations that the companies violated the Indiana Uniform Consumer Credit Code and Indiana Deceptive Consumer Sales Act by originating deceptive and unlicensed personal loans to consumers purchasing vehicles.
  • According to AG Rokita, Integrity Acceptance allegedly failed to obtain the required licensing to originate and service loans, contracted for charges in excess of the maximum allowable rate, misrepresented financing charges, and failed to disclose prepaid financing charges, among other things.
  • Under the terms of the settlement, Integrity Acceptance must forgive approximately $224,000 in consumer loans, pay approximately $34,000 in restitution, and pay approximately $33,000 in civil penalties, among other relief.