Honda captive may face loan-bias penalty

From: Automotive News

American Honda Finance Corp. disclosed that the Consumer Financial Protection Bureau and U.S. Department of Justice have concluded the company was responsible for illegal discrimination in pricing auto loans and could be disciplined unless it reaches a settlement with the federal agencies.

The disclosure, in a Securities and Exchange Commission filing, echoes a nearly identical move by Toyota Motor Credit Corp. on Nov. 28. Both captive finance companies disclosed last year that the federal agencies had requested information regarding auto loans.

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