Toyota will pay $60 million to settle a United States regulator’s charges it illegally prevented car buyers from canceling unwanted product bundles that increased their monthly loan payments, and tarnished buyers’ credit reports.
The Consumer Financial Protection Bureau (CFPB) on Monday said Toyota Motor Credit, the automaker’s US-based lending arm, will pay a $12 million civil fine and $48 million to car buyers harmed since 2016.
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