Lenders must apply F&I refunds after vehicles repossessed or totaled, N.Y. says

Lenders must apply F&I refunds after vehicles repossessed or totaled, N.Y. says

The New York State Department of Financial Services reminded auto lenders to give consumers refunds on car protection products if their vehicles are repossessed or deemed a total loss. The CFPB also has frowned on financial institutions failing to refund GAP insurance after total losses.

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