DaimlerChrysler AG

A nationwide class action lawsuit was filed against the dealership alleging its lending practices discriminated against black and Hispanic car buyers. The lawsuit claimed dealers charged black and Hispanic customers higher interest on car loans than whites. According to the settlement terms, DaimlerChrysler Services North America will limit the amount dealers can mark up interest rates. It will also offer several billion dollars in no mark up loans to African American and Hispanic customers. (Jul-26-05) [BLOOMBERG]