Honda Finance Arm Probed
CFPB looking into consumer credit account data. Company says it’s cooperating.
The company said it’s cooperating with the probe.
IMAGE: Pexels/Sora Shimazaki
American Honda Finance Corp. said in a quarterly financial report that it’s under investigation by the Consumer Financial Protection Bureau in connection with its submission of crediting reporting data on consumer credit accounts.
The company, a wholly owned subsidiary of American Honda Motor Co., said the federal agency issued a civil investigation demand in November and that it’s cooperating with the probe, including responding to information requests.
“Management cannot predict the eventual scope, duration or outcome of this investigation and is unable to estimate the amount or range of potential losses, if any, at this time,” it said in the 10-Q report for the quarter ended Dec. 31.
Originally posted on Auto Dealer Today
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