Toyota Motor Credit Corporation Discrimination Class Action Settlement
Class Eligibility
To be eligible for a settlement payment:
- A buyer must have gotten an auto loan to buy a vehicle financed by Toyota Motor Credit Corporation between January 1, 2011, and August 1, 2016.
- At least one buyer on the contract must be African-American, Black, Asian, Native Hawaiian, or other Pacific Islander.
- The buyer(s) must also have been identified by the Government as having been overcharged by Toyota Motor Credit Corporation.
You do not need to have an open account with Toyota Motor Credit Corporation to be eligible for a payment. It does not matter whether your account went into default or your vehicle was repossessed.
Estimated Amount
Varies
Proof of Purchase
Yes
Claim Form
Case Name
This Case Was Handled by The Consumer Financial Protection Bureau
Case Summary
The Consumer Financial Protection Bureau and the U.S. Department of Justice claimed that Toyota Motor Credit Corporation’s dealer compensation policies resulted in African-American, Asian, and Pacific Islander buyers paying higher interest rates than non-Hispanic White buyers, without regard to creditworthiness. Toyota Motor Credit Corporation, while neither admitting nor denying the claims, voluntarily agreed to pay up to $21.9 million to repay eligible buyers.
Settlement Pool
$21,900,000.
Settlement Website
Deadline
05/08/2018
