Toyota to Pay $20 Million in Discriminatory-Lending Probe Accord

Toyota Motor Credit Corp. agreed to pay almost $20 million to compensate African-American and Asian-American people who may have been subject to racially discriminatory lending practices when they bought cars on credit from 2011 to this year.

The accord, which resolves a simultaneously-filed lawsuit in a Los Angeles federal court, was announced Tuesday by the U.S. Department of Justice and Consumer Financial Protection Bureau.

Before it's here, it's on the Bloomberg Terminal.
LEARN MORE