Japanese car giant, Honda has agreed to pay 24 Million Dollars to settle US claims that it discriminated against some customers based on race.
Reports from BBC state that an investigation by US regulators found that the Japanese company charged African-American and Hispanic owners higher interest rates on car loans and that they paid about $250 more than white customers regardless of their creditworthiness.
However, Honda said in a statement that it strongly opposes any form of discrimination and American Honda Finance Corp, the company's loans arm, would change its pricing and compensation system to reduce the potential for discrimination.
They also agreed on a 24 Million Dollar settlement that Honda will pay which will go in to a fund to compensate affected borrowers and a car finance education program for minority borrowers.
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