Santander Consumer USA

Report Card
B-
Overall Grade
B
Debt Collection Grade
A-
Credit Reporting Grade
A
Bank Account Services Grade
Santander Consumer USA is rated overall in the top 59 percentile (out of 100) based on 1,055 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits19.7
Complaints Resolved in a Timely Manner99.9%
Resolutions Disputed by Customer31.9%
Average Time Until ResolutionUnknown

Financial Report

Owner CorporationBanco Santander, S.A.
EstablishedJanuary, 1907
FDIC InsuredMarch, 1938
FDIC Certificate #029950
Number of Branches702
Total Assets$77.3 Million (23rd)
Total Deposits$53.6 Million (23rd)
Total Equity$13.1 Million (18th)
Quartarly Net Income$115.8 Thousand (30th)

Contact Information

Corporate Headquarters
824 North Market Street, Suite 100
Wilmington, DE 19801
United Statesflag
Website
www.santander.com
Data Summary
Santander Consumer USA logo

Grade Summary

Overall, Santander Consumer USA received a grade of "B-" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. Santander Consumer USA is rated "B" in Debt Collection, "A-" in Credit Reporting, "A" in Bank Account Services, and "F" in Consumer Loans. Click on any of the financial products to see how Santander Consumer USA compares.

Overview

Santander Consumer USA has received 1,055 consumer complaints since February, 2012 – more than 98% of other banks.

Of those complaints, 99.9% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Santander Consumer USA meets the 60-day response deadline more frequently than 62.1% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 31.9% of customers dispute Santander Consumer USA's response to complaints — worse than 91.8% of other companies.

Most of Santander Consumer USA's customers complain about consumer loans with the primary issue being "managing the loan or lease."

Santander Consumer USA is primarily a commercial bank with a commercial lending specialization. Santander Consumer USA is based in Wilmington, Delaware and is the 23rd largest FDIC insured bank in America.

Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.

However, even after adjusting for bank size and number of customers, Santander Consumer USA receives far more complaints than most other banks. Santander Consumer USA recieves more complaints per customer than 98% of other banks – customers are significantly more likely to file complaints than customers of most other banks.

Corporate Headquarters
Complaints by Product
Complaints by State
Complaints Against Santander Consumer USA
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Consumer loanVehicle loanManaging the loan or lease616
2Consumer loanVehicle loanProblems when you are unable to pay240
3Consumer loanVehicle loanTaking out the loan or lease145
4Consumer loanVehicle loanShopping for a loan or lease51
5Consumer loanVehicle leaseManaging the loan or lease26
6Debt collectionAutoCont'd attempts collect debt not owed22
7Consumer loanInstallment loanManaging the loan or lease18
8Debt collectionAutoCommunication tactics18
9Debt collectionAutoCont'd attempts collect debt not owed16
10Bank account or serviceOther bank product/serviceAccount opening, closing, or management14
Responses From Santander Consumer USA
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation1,1841,184 (100%)358 (30.2%)
2Closed9089 (98.9%)33 (36.7%)
3Closed with non-monetary relief3030 (100%)7 (23.3%)
4Closed without relief2020 (100%)5 (25%)
5Closed with monetary relief1212 (100%)3 (25%)
6Closed with relief11 (100%)0 (0%)
Complaints over the Past Year