Toyota has settled charges it billed Asian customers $100 more for auto loans than White customers, reports the Los Angeles Times.
The same case from the Consumer Financial Protection Bureau also alleges Toyota charged Black customer $200 more than Whites.
The automaker did not admit guilt, but agreed to pay a fine of $21.9 million.
Federal regulators says Toyota charged its Asian and Black customers higher interest rates.
“No consumer should be forced to pay more money for a loan because of their race or national origin,” U.S. Atty. Eileen M. Decker of the Central District of California said.
The settlement includes $20 million in restitution for borrowers.
You can read about what Toyota plans to do going forward and about similar allegations against other automakers in the Los Angeles Times.
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