Lending Lows: Toyota financial unit to pay $60 million for illegal lending and credit reporting misconduct
Torrance, California — Toyota Motor Corp’s U.S.-based auto financing unit will pay $60 million in fines and restitution to settle a U.S. regulator’s charges that it illegally prevented borrowers from cancelling product bundles that increased their monthly car loan payments. On Monday, the Consumer Financial Protection Bureau (CFPB) said Toyota Motor Credit will pay a […]
