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News
December 3, 2014

Honda Becomes Latest Target of DoJ/CFPB Auto Lending Probe

America Honda Finance Corp. has become the second auto lending company this week (we reported about a probe into Toyota yesterday) to report that the U.S. Justice Department and Consumer Financial Protection Bureau are planning possible “enforcement action” against the company over alleged “discriminatory lending practices.”

The Wall Street Journal reports that this is all part of an 18-month probe by the CFPB into auto lenders. The Journal also reports that the CFPB “has faced questions from lawmakers who say the agency hasn’t provided enough detail about its concerns to justify the probe.”

Read the full story here.

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