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Santander Consumer Gets U.S. Subpoena on Auto Loans

Santander Consumer USA received a civil subpoena from the Department of Justice about its subprime auto lending business, part of a probe into practices in the booming area of financing car purchases for people with spotty credit.

Federal prosecutors are seeking documents related to debt underwritten and securitized since 2007, according to a regulatory filing. General Motors Co.’s financing unit said it received a similar communication earlier this week.