Civil Plaintiff
Colorado Credit Unions Refund Over $6 Million in a Settlement Over Guaranteed Auto Protection Payments
Three credit unions will issue refunds to some borrowers after Colorado attorney general Phil Weiser concluded an investigation into guaranteed auto protection payments. Ent Credit Union, Premier Members Credit Union and Credit Union of Denver distributed combined refunds totaling more than $6 million.
Guaranteed auto protection payments are an add-on to financed car purchases that ensure the loan can still be paid off even if the car is totaled. If the loan is paid off early, guaranteed auto protection payments legally must be refunded to the borrower.
