US regulator orders Honda unit to pay millions for harming drivers' credit reports
The CFPB said American Honda Finance deferred some drivers' loan payments during the COVID-19 pandemic, only to then tell credit reporting agencies that the drivers were delinquen
Honda's financing arm ordered to pay $12 million for credit reporting failures
The Consumer Financial Protection Bureau (CFPB) has ordered American Honda Finance Corporation to pay $12.8 million for reporting incorrect information tha
Honda unit fined $12.8M for harming drivers’ credit reports
Honda’s U.S. financing arm was ordered today by the U.S. Consumer Financial Protection Bureau to pay $12.8 million for reporting inaccurate information that affected the credit reports of 300,000 drivers of Honda and Acura vehicles.
Honda's auto financing arm fined $12.8M over alleged credit reporting lapses
American Honda Finance Corp., the auto financing unit of Honda Motor Co. (NYSE:HMC), has been ordered by the U.S. Consumer Financial Protection Bureau to pay a $12.8M penalty for allegedly posting inaccurate information that impacted the credit reports of hundreds of thousands of Honda and Acura vehicles,
Honda Auto Finance fined $12.8 million for reporting errors
The Consumer Financial Protection Bureau said American Honda Finance Corp. inaccurately reported 300,000 borrowers as delinquent who had paused loan payments during the pandemic.
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