Shuttered metro Atlanta firm, US Auto Sales Financing must pay $42.6M in penalties and restitution.
LAWRENCEVILLE, Ga. — A federal court has ordered a defunct auto finance company based out of Georgia to pay $42.6 million in damages, restitution, and penalties for violating the Consumer Financial Protection Act (CFPA), including wrongful repossessions, overbilling, and other abusive practices.
In April 2023, 11Alive reported on the abrupt closure of U.S. Auto Sales dealerships across the Southeast. The Lawrenceville-based car dealer operated 39 dealerships across six states, including Georgia, Florida, Tennessee, South Carolina, North Carolina and Alabama.
It was founded in the Gwinnett County city back in 1992.
CFPB claims USASF wrongfully disabled borrowers’ vehicles, improperly repossessed vehicles, double-billed borrowers for insurance premiums, and failed to return millions of dollars in refunds to consumers.
In an opinion issued on Nov. 26, 2024, U.S. District Judge Victoria M. Calvert ruled in favor of the CFPB after the …