DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Thursday, February 04, 2016
Toyota Must Pay $22M For Charging Higher Interest To Non-White Borrowers
Under the Equal Credit Opportunity Act, creditors are prohibited from discriminating against loan applicants based on race or national origin. But that was a rule Toyota’s financing unit allegedly violated, resulting in thousands of African-American, Asian and Pacific Islander borrowers paying higher interest rates than their white counterparts. Now, in an effort to resolve charges filed by the Consumer Financial Protection Bureau, Toyota Motor Credit Corporation must pay $21.9 million to wronged consumers.
Subscribe to:
Post Comments (Atom)
5 comments:
If they didn't have a credit score as good as the other borrowers, they should be charged more - it's a higher debt risk category!
If you don't have a job. are collecting welfare and food stamps, your credit score should be negative! If you can them come up with cash to buy that Blingcoln with 22" rims, you should then be disqualified from welfare and food stamps - if you starve or freeze then, it is because of your own stupidity and laziness!
I want my free stuff!, feeling the Bern.
7:51 you speak that which you are A DEVIL.
@ 9:52 am Black privilege attitude much ?
If your credit scores are low you must pay higher interest rate because you are high risk. period. If you don't understand how credit works, you shouldn't be using credit. Get your credit scores up and you will pay lower rates. duh...
Post a Comment