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Litigation

Feb. 4, 2016

Toyota settles discriminatory loan lawsuit with Justice Department

Toyota Motor Credit Corp. will pay out up to $21.9 million to African American and Asian American borrowers to settle allegations of discriminatory loan pricing.

By Kevin Lee
Daily Journal Staff Writer

Toyota Motor Credit Corp. will pay out up to $21.9 million to African American and Asian American borrowers to settle allegations of discriminatory loan pricing against minorities, federal regulators announced Tuesday.

The U.S. Department of Justice and the Consumer Financial Protection Bureau jointly filed a nine-page civil complaint and a 27-page consent order Tuesday.

The government alleg...

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