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2 years ago
Honda's U.S. auto finance arm to pay $24 mln over loan pricing problems
July 14, 2015 / 5:43 PM / 2 years ago

Honda's U.S. auto finance arm to pay $24 mln over loan pricing problems

WASHINGTON, July 14 (Reuters) - A U.S. auto finance arm of Honda Motor Co will pay $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. (Reporting by Emily Stephenson; Editing by Will Dunham)

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