Lawsuits Claim Bias in Financing Car Loans
Class-action suits were filed Thursday against major finance companies, accusing them of charging blacks and Latinos higher rates for car loans.
“These cases involve core civil rights issues,” said attorney Bill Lam Lee, who represents several plaintiffs. “The law does not permit discriminatory lending, and our suits aim to stop it.”
One lawsuit was filed in San Francisco Superior Court against Torrance-based Toyota Motor Credit Corp. Two other suits were filed in Alameda County Superior Court against Irvine-based WFS Financial and Torrance-based American Honda Finance Corp. All three allege that blacks and Latinos pay higher interest rates than do white car buyers with similar credit ratings.
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