Retail

Honda captive finance company settles CFPB credit reporting case for $12.8 million

The Consumer Financial Protection Bureau headquarters on Aug. 18, 2024.
The agency accused Honda Finance of multiple violations of the Fair Credit Reporting Act or its related Regulation V “Furnisher Rule,” all of which also constituted violations of the Consumer Financial Protection Act of 2010. (GETTY)
January 28, 2025 05:00 PM

American Honda Finance Corp. has agreed to pay $12.8 million to settle allegations from the Consumer Financial Protection Bureau that the Honda and Acura captive finance company gave credit bureaus erroneous or incomplete information about borrowers more than 300,000 times from 2019 to 2024.

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