DaimlerChrysler AG’s U.S. consumer credit unit settled a nationwide class action lawsuit that claimed its lending practices discriminate against black and Hispanic car buyers.
DaimlerChrysler Services North America will limit the amount dealers can mark up interest rates and will offer several billion dollars in no mark-up loans to African American and Hispanic customers, according to the settlement filed in federal court in New Jersey. The lawsuit claimed dealers charged black and Hispanic customers higher interest on car loans than whites.
For this complete story, please visit DaimlerChrysler Finance Unit Settles Lending Bias Class Action.
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