CNH Industrial Capital America LLC provides financial services and products for agricultural and construction equipment brands in North America, Latin America, Europe, and Australia. It offers split-rate, fixed-rate, and variable-rate financing. The company also offers operating, finance, and municipal leasing services; and commercial revolving account, a credit line for day-to-day parts, service, rental, and accessory purchases. In addition, it offers physical damage insurance that provides coverage to repair or replace insured equipment in the event of direct physical loss or damage; purchased protection plans that help protect eligible new and used equipment beyond the manufacturer's base...
Mail Station 535
500 Diller Avenue
New Holland, PA 17557
Founded in 1993
CNH Industrial America, LLC and CNH Capital America, LLC Sued for U.S. Antitrust Violations, Fraud, and Conspiracy in Financial Tying Arrangement
Dec 9 16
CNH Industrial America, LLC and CNH Capital America, LLC, have been sued for conspiring to monopolize portions of the U.S. agricultural wholesale equipment market and otherwise unduly terminate dealers in an allegedly unlawful wholesale financing tying arrangement. CNH Industrial sued for U.S. Antitrust Violations, Fraud, and Conspiracy in Forced Financial Tying Arrangement. The lawsuit, filed in the District Court of Oklahoma by New Holland dealer Wootton New Holland, LLC alleges that CNH Industrial and CNH Capital conspired to unlawfully perpetrate a scheme of fraud to circumvent The Fair Practices of Equipment Manufacturers, Distributors, Wholesalers, and Dealers Act of Oklahoma. Specifically, the complaint alleges that CNH INDUSTRIAL and CNH CAPITAL acted to constructively and unlawfully terminate New Holland Brand Dealer Agreements by extinguishing lines of credit in an alleged "arm's length" manner, while subsequently refusing to sell products and services to dealers on a cash basis or through other lenders. The complaint also alleges that the CNH Companies engaged in this conduct all while refusing to accept payment for orders in an effort to unlawfully retain payments due and owing to the dealers in order to reduce their own risk. The complaint further alleges that CNH Capital's sole reason for existence is to circumvent dealer fair treatment statutes existing nationwide in the U.S. The Plaintiff further alleges that CNH Industrial requires all dealers to purchase financing from CNH Capital at above market rates as a condition of sale and maintaining its dealer status with CNH Industrial. The complaint further explains the alleged tying arrangement in that CNH Capital's own representatives have testified before this Court as follows: Capital is wholly owned by and is under the exclusive control of CNH Industrial America. Both entities are wholly owned by and under the exclusive control of CNH Industrial, NV. Every New Holland and Case dealer in the United States - more than 1,000 dealers in total - is required to execute a wholesale financing and security agreement with CNH Capital in order to enter into a dealer agreement with CNH Industrial. CNH Industrial does not, in the ordinary course of its business, accept payment from any party other than CNH Capital. The matter has also been referred to the Attorney General of The United States and is currently pending.