Volkswagen Financial Services controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2019
ASIC sues Volkswagen Financial Services over car loans
Lawsuit filed
The Australian Securities and Investments Commission sued Volkswagen Financial Services Australia, alleging that it breached responsible lending and consumer credit laws in connection with 49,380 car loan contracts. The Federal Court will examine whether the company contravened the National Credit Act.
Source excerpt
Volkswagen’s Australian financial arm, Volkswagen Financial Services, is being sued by the Australian Securities and Investments Commission (ASIC) for allegedly breaking responsible lending laws.
ASIC has accused Volkswagen Financial Services of breaking consumer credit laws in 49,380 car loan contracts between 2013 and 2016.
In a statement, Volkswagen Financial Services Australia said it took its compliance obligations seriously and it has been cooperating with ASIC on matters arising from 2013 to 2016.