CFPB and DOJ Order Ally to Pay $80 Million
to Consumers Harmed by Discriminatory Auto Loan Pricing
Ally to Pay Additional $18 Million in Civil
Penalties for Harming More Than 235,000 Minority Borrowers
WASHINGTON, D.C. — The Consumer
Financial Protection Bureau (CFPB) and Department of Justice (DOJ) today
ordered Ally Financial Inc. and Ally Bank (Ally) to pay $80 million in damages
to harmed African-American, Hispanic, and Asian and Pacific Islander borrowers
and $18 million in penalties. The CFPB and DOJ determined that more than
235,000 minority borrowers paid higher interest rates for their auto loans
between April 2011 and December 2013 because of Ally’s discriminatory pricing
system. Today’s orders represent the federal government’s largest auto loan
discrimination settlement in history.
Car dealer accused of trying to get fraud witness — his uncle — killed
A suburban car dealer plotted to kill his
uncle in a doomed attempt to beat a federal fraud case, prosecutors allege.
Sikh salesman settles suit against Lexus dealership
A car salesman, who is a member of the Sikh
religion, has won a lawsuit against a Lexus dealership, where he had applied
for work. The dealership had a policy that the prospective salesman said
violated his religious beliefs.
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