March 21, 1995 in Nation/World

Auto Makers’ Lending Practices Probed

From Staff And Wire Reports
 

The Justice Department and the Federal Trade Commission are investigating whether the finance operations of auto manufacturers are discriminating against minorities in their lending practices.

Ford Motor Co., Chrysler Corp. and General Motors Corp. said Monday they were cooperating with federal investigators but would not discuss details of the inquiry.

The companies stood behind their lending policies.

“We have a longstanding policy at Ford of equal opportunity lending,” said Ford Motor Credit Co. spokesman Nick Sharkey. “We believe our lending practices support that policy.”

A spokeswoman for General Motors Acceptance Corp., Dayna Hart, said the finance arm of the nation’s largest automaker supports “fully equal credit opportunity for everyone.”

Get stories like this in a free daily email


Please keep it civil. Don't post comments that are obscene, defamatory, threatening, off-topic, an infringement of copyright or an invasion of privacy. Read our forum standards and community guidelines.

You must be logged in to post comments. Please log in here or click the comment box below for options.

comments powered by Disqus