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Honda's US auto finance arm to pay US$24 million over loan pricing problems

2015-07-14 23:01:40| Automakers - Topix.net

WASHINGTON: A U.S. auto finance arm of Honda Motor Co will pay US$24 million in restitution over allegations that its loan pricing practices caused minority customers to pay higher interest rates than white borrowers did, U.S. regulators said on Tuesday. The U.S. Consumer Financial Protection Bureau and Department of Justice said American Honda Finance Corp also would change its pricing and compensation system to reduce the potential for discrimination.

Tags: auto problems pay finance

Category:Automotive

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