NCLC currently is co-counsel in a series of putative national class action cases brought under the Equal Credit Opportunity Act against certain auto finance companies and banks. The Plaintiffs contend that the Defendants maintain policies which permit car dealers to "mark-up" the finance rates on loans based on subjective criteria unrelated to creditworthiness. It is alleged that these policies have a disparate impact on African-American and Hispanic customers so that they pay more for credit than similarly situated White consumers . A suit against Nissan Motor Acceptance Corp. was settled in March 2003. Cases against General Motors Acceptance Corp. and WFS Financial, Inc. settled in May and December, 2004 respectively. Settlements in cases brought against American Honda Finance Company, Bank of America, Bank One/Chase and Firstar/U.S. Bancorp. received final approval by the Federal District Court for the Middle District of Tennessee in the Spring of 2005. A tentative settlement in a case brought against DaimlerChrysler Financial is pending final approval by the Federal District Court for the District of New Jersey. Cases currently are being litigated against Toyota Motor Credit Corp. in the Federal District Court for the Central District of California, Ford Motor Credit Corp. in the Federal District Court for the Southern District of New York and Primus Financial Services. in the Federal District Court for the Middle District of Tennessee.
Settlement Notice (
Appendix D: 
and NCLC