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Minorities, DCX Settle Lawsuits

July 5, 2005

Minority customers in Chicago and New Jersey involved in class-action racial discrimination lawsuits against DaimlerChrysler AG’s North American finance unit have reached tentative settlements.

DaimlerChrysler admitted no wrongdoing but will pay millions of dollars in legal fees, the creation of consumer education programs on vehicle financing and antidiscrimination training for employees, reported The Detroit News.

The settlement in New Jersey places a 2.5 percentage-point limit on loan markups. DaimlerChrysler’s previous cap was 3 percentage points.

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Carbiz Opens Auto Credit Center

SARASOTA, Fla. -- Carbiz is continuing its Florida expansion with a Carbiz Auto Credit Center in Tampa, announced CEO Carl Ritter. The business will finance and sell automobiles to people who otherwise might not qualify for a loan.