CFPB hits Toyota Motor Credit with $60 million enforcement action

CFPB hits Toyota Motor Credit with $60 million enforcement action The auto finance division of Toyota Motor Co. must pay $60 million after the Consumer Financial Protection Bureau found that it engaged in various practices that violated federal law. Toyota Motor Credit Co. delayed and withheld customer refunds, made it difficult to cancel unwanted add-on products and reported false information about consumers to credit bureaus, according to a CFPB consent order. The auto lender's practices violated the Consumer Financial Protection …