Honda agrees to pay $24 million to past minority victims of discriminatory lending

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By Amanda Lee Myers, Associated Press

LOS ANGELES (AP) — Honda reached a settlement Tuesday to resolve allegations that the company discriminated against minority car buyers by marking up interest rates on loans, a practice industry experts describe as common because of the discretion given to individual dealerships.

Honda’s settlement with the U.S. Department of Justice, which is subject to court approval, was filed in federal court in Los Angeles. Honda ‘s U.S. operation is based in nearby Torrance, California.

The Justice Department …read more

Via:: The Grio