Last week, the federal government found that American Honda Financial Corporation had violated fair lending laws by routinely charging minority customers $150 to $250 more for loans than their white counterparts. As a result, the automaker will be sending $24 million in rebate checks to the thousands of black, Hispanic, Asian and Pacific Islander borrowers who were affected by the discriminatory practice. Additionally, Honda has pledged to begin capping dealer markups and providing its workforce with greater diversity training in the future.
The controversy hasn’t gained a lot of traction in the national news cycle (that’s what happens when your company’s other ongoing scandal involves more headline-friendly exploding airbags), but it’s actually a pretty interesting story, albeit for unpleasant reasons.
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Source Credits: The Newswheel