Santander agrees to $550 million U.S. settlement over subprime auto loans
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WASHINGTON (Reuters) - Santander Consumer USA Holdings Inc said on Tuesday it had agreed to make changes to its underwriting practices as part of a $550 million (448.7 million pounds) settlement with 33 states and the District of Columbia over subprime auto loans.The states said Santander violated consumer protection laws by placing borrowers with subprime credit into auto loans it knew carried a high probability of default. Santander has agreed to pay $65 million for restitution for some..