Another U.S. Auto Lender Is Being Probed Over Kill Switches
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U.S. regulators have asked auto finance company Westlake Financial Services for information about technology like kill switches that makes it easier for lenders to repossess cars when borrowers fall behind.
The Federal Trade Commission issued a civil investigative demand to Westlake in November, seeking information on the devices, according to private bond-offering documents from this month obtained by Bloomberg. The government agency has sought information from at least two other lenders as it probes subprime collection practices, Bloomberg reported last month.