In 2010, a spot delivery/yo-yo case (dealer sold a car to a client and said the loan was approved, then yanked it back saying they could not get financing for the vehicle), the client filed suit against the automobile dealership and the lenders, alleging Fraud, Violation of the Virginia Consumer Protection Act, Violations of the Fair Credit Reporting Act and Equal Credit Opportunity Act.
All defendants, including the automobile dealership and some of the lenders that the dealer shopped around for financing to, settled. The allegations against the lenders were, in part, that they failed to provide adverse action letters.
The case settled for about $20,000 from the dealer and about $2,500 from each lender, with one lender deciding to fight the allegations but ended up settling for about $25,000 shortly before trial.