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Ally Ordered To Pay $80 Million In Damages

Friday, December 27, 2013 - 10:03 AMAlly Bank - Details
"WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) today ordered Ally Financial Inc. and Ally Bank (Ally) to pay $80 million in damages to harmed African-American, Hispanic, and Asian and Pacific Islander borrowers and $18 million in penalties. The CFPB and DOJ determined that more than 235,000 minority borrowers paid higher interest rates for their auto loans between April 2011 and December 2013 because of Ally’s discriminatory pricing system. Today’s orders represent the federal government’s largest auto loan discrimination settlement in history."

CFPB and DOJ Order Ally to Pay $80 Million to Consumers Harmed by Discriminatory Auto Loan Pricing > Consumer Financial Protection Bureau
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