Ally Financial reached $98 million settlement over discriminatory auto-loan pricing
Company: Ally Financial Inc.
Summary
DOJ and CFPB reached a $98 million resolution with Ally over allegations that its indirect auto-lending pricing practices resulted in African-American, Hispanic, Asian and Pacific Islander borrowers paying higher dealer markups because of race or national origin rather than creditworthiness. The settlement provided $80 million for affected borrowers and an $18 million civil penalty. Source: https://www.justice.gov/sites/default/files/crt/legacy/2015/04/13/ecoareport2013.pdf