-The Consumer Financial Protection Bureau fined Toyota’s U.S.-based financing firm $60 million for illegal lending practices.
-Toyota Motor Credit Corp. made it difficult for consumers to cancel add-on products that cost an average of between $700 and $2,500 per loan.
-The firm also violated the Fair Credit Reporting Act by failing to correct inaccurate information given to credit reporting agencies, according to the CFPB.
This is cars related and relevant. Not sure why other posts are getting locked, people obviously want to talk about this given the comments.
No wonder dealers rated both Toyota and Lexus as the most “trusted” brands to sell, how long will they mark up their cars more for money and make buying a Toyota worse for the average consumer?
Copying this comment here (with some corrections) just as a reminder that dealers literally “trust” both Toyota and Lexus as the best brands to sell cars.