Consumer complaint received 2025-11-10 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem with additional add-on products or services — 
Company: SANTANDER HOLDINGS USA, INC.
State: MD

Complaint narrative:
Santander Bank, N.A. Unlicensed Activity and Predatory Lending Practices in Maryland To : Maryland Residents, Financial Regulators, and Consumer Protection Agencies From : Concerned Maryland Resident and Borrower Subject : Fraudulent Lending and Unlicensed Banking Operations by Santander Bank, N.A. 

Summary of Complaint This is a formal public notice and consumer warning regarding Santander Bank, N.A., headquartered at XXXX | XXXX XXXX XXXX | Reading, PA XXXX, for engaging in unlicensed and predatory lending activities within the State of Maryland XXXX 

Santander Bank, N.A. is not licensed to operate, conduct, or solicit banking or lending business in the State of Maryland. Despite this, the institution issued and executed a consumer loan agreement ( Loan Account No. XXXX ) within the State of Maryland a clear violation of state financial laws and regulatory provisions that require all lenders to be duly licensed and registered before engaging in such transactions. 

Key Facts and Violations The loan document in question was processed, signed, and executed in Maryland even though Santander Bank, XXXX. maintains no authorized office, branch, or physical presence in the state. 

Within less than XXXX year, the borrower experienced multiple unexplained interest rate increases and arbitrary payment adjustments inconsistent with the original loan terms. 

On or about XX/XX/year>, fraudulent online payment activities were detected and immediately reported to Santander Bank and to the Consumer Financial Protection Bureau ( CFPB ). 

Instead of addressing the fraud or responding appropriately to the CFPB inquiry, Santander Bank, N.A. sent electronic copies of statements and bills falsely claiming they were mailed to the Maryland resident despite having no business license or authorization to service loans in Maryland. 

Predatory and Deceptive Practices Identified Unlicensed Lending Activity Operating and originating loans in Maryland without state authorization. 

Predatory Loan Adjustments Arbitrary and excessive interest rate increases without justification.

Failure to Respond to Fraud Complaints Non-compliance with federal consumer protection requirements following a CFPB report. 

Deceptive Misrepresentation of Service Location Issuing correspondence and statements under the false pretense of lawful Maryland activity. 

Public Warning and Regulatory Request All Maryland residents are urged to exercise extreme caution when approached by or dealing with Santander Bank, N.A. for any lending, refinancing, or consumer loan product. 
Regulatory agencies including : Maryland XXXX XXXX XXXX XXXX ( OFR ) Consumer Financial Protection Bureau ( CFPB ) XXXX XXXX XXXX XXXX ( FDIC ) Federal Trade Commission ( FTC ) are requested to investigate the above activities for potential violations of Maryland financial laws, deceptive trade practices, and federal consumer protection statutes. 

Call to Action Consumers who have obtained loans or financial products from Santander Bank, N.A. while residing in Maryland should : Review their loan documents carefully. 

Report any suspicious or unlicensed activity to the Maryland XXXX of XXXX XXXX ( https : //www.dllr.state.md.us/finance/

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation