The Industry's Leading Source For F&I, Sales And Technology

Top News

DaimlerChrysler Settles Discrimination Lawsuit

July 27, 2005

DETROIT -- DaimlerChrysler has agreed to settle a discrimination lawsuit involving its captive finance unit and minority car buyers, according to court documents.

Reuters reported that Daimler Chrysler North America LLC will issue 600,000 or 875,000 pre-approved loans — depending on certain limits on interest rate increases — to black and Hispanic people based solely on credit history.

The settlement also puts limits on the dealer markup on these loans.

DaimlerChrysler will also have to contribute $1.8 million to certain nonprofit groups for the purpose of consumer education and assistance, according to terms of the agreement.

Your Comment

Please note that comments may be moderated. 
Leave this field empty:
Your Name:  
Your Email:  



Man Accused of Identity Theft in Vehicle Purchases

TEXARKANA, Texas -- A Texas man accused of using a Hawaii resident's identity to purchase vehicles totaling more than $103,000 has been charged with five federal counts involving identity theft and is awaiting trial, reported the Texarkana Gazette.