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Asian Auto Lending Discrimination in Los Angeles?
It is common practice for banks and other lenders to set a base interest rate or so-called “buy rate” and then for the auto dealership to “mark up” the interest rate to the final rate the customer pays on the loan for the car. The complaint alleges that Union Auto Sales charged higher interest rate markups to non-Asian customers from at least 2004 to 2006, which constitutes lending discrimination. Continue reading
Posted in auto news, litigation
Tagged autoinformed, autoinformed.com, doj, ECOA, Ken Zino, Lending Discrimination, Mitsubishi
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