GMAC close to settling racial-bias suit - WSJ

Newswire

NEW YORK, Jan 30 (Reuters) - General Motors Acceptance Corp., the financing arm of General Motors Corp. , is close to settling a class-action suit alleging its auto-lending policies harm black car buyers, the Wall Street Journal said on Friday. GMAC representatives could not immediately be reached for comment. As part of a tentative pact with African-American plaintiffs, GMAC has offered to put tighter limits on the increases car dealers can impose on interest rates set by GMAC, the ...

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