Frequently Asked Questions

  1. What is this settlement about?

    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.

    For additional information about this Settlement, visit the CFPB and the DOJ.

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  2. Who is included in the settlement?

    To be eligible for a settlement payment:

    • A buyer must have gotten an auto loan to buy a vehicle financed by Toyota Motor Credit Corporation between January 1, 2011, and August 1, 2016.
    • At least one buyer on the contract must be African-American, Black, Asian, Native Hawaiian, or other Pacific Islander.
    • The buyer(s) must also have been identified by the Government as having been overcharged by Toyota Motor Credit Corporation.

    You do not need to have an open account with Toyota Motor Credit Corporation to be eligible for a payment. It does not matter whether your account went into default or your vehicle was repossessed.

    If you have other questions, please call 1-844-778-5953 or send an email to info@TMCCSettlement.com.

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  3. If eligible, how much will I be paid?

    The first page of your Buyer Participation Packet shows the estimated minimum payment that you will receive if you are eligible. Your final payment may be larger. When final payment amounts have been determined, you will get a check for the final payment amount.

    The Buyer Participation Packet also describes eligibility requirements, steps to follow to take part in the settlement, and provides an Address Correction Form (Note: You may also update your address here).

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  4. What if I did not receive a Buyer Participation Packet?

    If you did not receive a Buyer Participation Packet, but you believe that you are entitled to receive a payment, please complete and submit an Eligibility Form. Your information will be reviewed, and the Settlement Administrator will inform you about your eligibility to receive a settlement payment.

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  5. Who is the Settlement Administrator and why are they contacting me?

    Toyota Motor Credit Corporation is administering this Settlement through Epiq. The Settlement Administrator will contact eligible buyers and distribute payments. The Settlement Administrator can be reached at:

    Toyota Motor Credit Corporation Settlement
    Settlement Administrator
    P.O. Box 3775
    Portland, OR 97208-3775
    1-844-778-5953
    info@TMCCSettlement.com

    The Settlement Administrator’s activities will be overseen by the Government. Toyota Motor Credit Corporation is paying all of the Settlement Administrator’s costs and expenses.

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  6. Do I need to pay to participate in the Settlement?

    No. There is no fee to take part in the Settlement. Any mailings or phone calls that tell you to pay to take part in the settlement are a scam. Any person claiming to be related to the Settlement other than from the Settlement Administrator, Toyota, Toyota Motor Credit Corporation, the CFPB, the DOJ, or your local U.S. Attorney’s Office is a scam. You should immediately report any possible scams related to this Settlement to the Settlement Administrator at 1-844-778-5953 or send an email to info@TMCCSettlement.com.

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  7. How will the Settlement handle accounts with multiple buyers?

    If there are co-buyers on the same account, each co-buyer will receive a payment unless that co-buyer returns a non-Participation Form to decline payment.

    Each co-buyer can choose to take part in the settlement even if the other does not. If there are two eligible buyers on the account, each person is only entitled to receive one-half of the money due on that account.

    The Settlement Administrator and the Government will not mediate disputes between co-buyers on whether to sign Buyer Participation Forms or the amount of payment each co-buyer may receive.

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  8. What if a buyer has died or is no longer able to handle his or her own affairs?

    If a buyer has died or is no longer able to handle his or her own affairs, the amount that the buyer is eligible to receive may go to his or her estate or to the agent in charge of the buyer’s financial affairs. Please call the Settlement Administrator at 1-844-778-5953 for special instructions.

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  9. What if I filed for bankruptcy after buying the car associated with my eligible account(s)?

    If you or your co-buyer filed for bankruptcy after buying the car associated with your eligible Toyota Motor Credit Corporation account, the settlement payment may affect the bankruptcy. This could happen even if that bankruptcy case has been closed. You should contact the attorney who is representing or represented you or your co-buyer in the bankruptcy proceeding to discuss whether the money you or your co-buyer is eligible to receive may be an asset of the bankruptcy estate. If you or your co-buyer did not file the bankruptcy petition with an attorney and you still do not have one, you should tell the trustee who was assigned to the bankruptcy case that you are eligible to receive money as a result of this settlement.

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  10. I no longer live at the address associated with this account. Can I still participate in the Settlement?

    Yes. You may participate in the Settlement regardless of where you currently live.

    If you have moved outside of the United States, please call the Settlement Administrator (1-844-778-5953) for information regarding international payments.

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  11. I no longer own the car associated with the Toyota Motor Credit Corporation account. Can I still participate in the Settlement?

    Yes. You may participate in the Settlement whether you still own the car associated with the account or not.

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  12. How do I update my address?

    In order to change your address in our database, you must send a letter, signed by you, requesting an address update, which includes your former and current mailing addresses, to the Settlement Administrator at the address below, or you can file an update address form online here.

    Toyota Motor Credit Corporation Settlement
    Settlement Administrator
    P.O. Box 3775
    Portland, OR 97208-3775

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  13. How do I update my legal name?

    In order to change your name in our database, you must send a letter, signed by you, requesting a name change, which includes your former and current names, along with supporting documentation (for example, valid driver’s license, state ID, and/or marriage certificate), to the Settlement Administrator at:

    Toyota Motor Credit Corporation Settlement
    Settlement Administrator
    P.O. Box 3775
    Portland, OR 97208-3775

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  14. Will my payment be taxable?

    Consulting a tax professional will help you assess the specific tax implications of any payment you may receive, and help you understand those implications.

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  15. Whom do I contact for more information about this Settlement?

    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. If the Settlement Administrator cannot answer your question, the Administrator will consult with the Consumer Financial Protection Bureau or the U.S. Department of Justice, which may contact you directly.

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Important Dates

  • February 2, 2016
    Agreement Announced by DOJ and CFPB
  • May 8, 2018
    Buyer Response Deadline
  • 2019
    Payments Begin Mailing