The Consumer Financial Protection Bureau and the U.S. Department of Justice claimed that Toyota Motor Credit Corporation’s dealer compensation policies resulted in African-American, Asian, and Pacific Islander buyers paying higher interest rates than non-Hispanic White buyers, without regard to creditworthiness. Toyota Motor Credit Corporation, while neither admitting nor denying the claims, voluntarily agreed to pay up to $21.9 million to repay eligible buyers.
Buyer Participation Packets were mailed to all eligible customers identified by the Government. The Buyer Response Deadline was May 8, 2018. Forms are no longer being accepted.
Toyota Motor Credit Corporation administered this Settlement through Epiq. The Settlement Administrator contacted eligible buyers and distributed payments. The Settlement Administrator can be reached at:
Toyota Motor Credit Corporation Settlement
P.O. Box 3775
Portland, OR 97208-3775
The Settlement Administrator’s activities were overseen by the Government. Toyota Motor Credit Corporation paid all of the Settlement Administrator’s costs and expenses.
You should talk to your tax advisor to find out if there are any tax consequences from this Settlement payment. The Settlement Administrator will not report your payment to the IRS. The Settlement Administrator, Toyota Motor Credit Corporation, the Consumer Financial Protection Bureau, and the Department of Justice cannot give you tax advice for this payment. Visit www.IRS.gov for tax information.
This Settlement does not affect any other accounts you have with Toyota.
The amount of your payment was determined by the Consumer Financial Protection Bureau and the U.S. Department of Justice. The payment amount is final, and you may not appeal the payment amount.
The Settlement Administrator should be able to answer your questions about this settlement. To contact the Settlement Administrator, call 1-844-778-5953 or send an email to info@TMCCSettlement.com.