Pacifico Ford and Springfield Ford

Delaware County, PA: (Aug-21-07) The Justice Department brought charges against Pacifico Ford in Southwest Philadelphia and Springfield Ford in Springfield, Delaware County, two area auto dealers, alleging that they engaged in discriminatory lending. The suit claimed that the two charged African American customers higher interest rates on auto loans than white customers between 1999 and 2002. As part of a settlement reached, Pacifico agreed to pay up $363,000 plus interest, and Springfield would pay $94,000 dollars plus interest to the affected customers. Additionally, they also agreed to change the way they set interest rates to prevent future discrimination. The settlement agreement is yet pending federal court approval. [ABC NEWS: LOAN DISCRIMINATION]

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Published on Aug-22-07