Toyota Motor Credit Corporation has reached an agreement with Massachusetts.
The company will pay over seven-and-a-half-million-dollars to settle accusation of unfair and predatory lending and collection practices.
“Consumers facing repossession and collection actions on their vehicles deserve clear and transparent information from auto lenders,” said AG Campbell. “It is our hope that the debt waiver and funds secured through this settlement will assist hundreds of residents in getting the relief they need and deserve – and build on our efforts to provide economic opportunity to families across Massachusetts.”
The Attorney General says most of the money will help wipe out debt owed to Toyota by about five-hundred customers statewide.
(Photo by BEHROUZ MEHRI/AFP via Getty Images)