Tag Archives: General Motors

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A Penalty For Being Black? Toyota to Pay $20 Million Settlement for Charging Black Customers More Interest for Car Loans

By Atlanta Black Star

Institutional racism in the auto financing industry is alive and well, as it was announced that Toyota Credit, the financing arm of the automotive giant, will pay $21.9 million to Black and Asian buyers who were charged more for car loans than white customers.

Audi-A1

Tired of paying too much for your car insurance? If so, you’re not alone.

According to data collected from J.D. Power, car owners got hit with an average increase of 35 percent on their car insurance premiums last year. What’s also devastating for your pockets is that a rate increase was approved and enforced in 2012.

GMRecall

GM Recalls 2.42 million vehicles

General Motors’ recall saga continued Tuesday with the beleaguered automaker recalling another 2.42 million vehicles for four separate issues. The move also means GM will take a $400-million charge against second-quarter earnings.