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Several Automobile Financing Companies in Milwaukee



A lawsuit has been filed and is seeking class action status against the five automobile financing companies. The suit claims a finance charge markup system violates the federal Equal Credit Opportunity Act and alleges that the finance companies violated Wisconsin laws and the Wisconsin Consumer Credit Act .The lawsuits claims that the finance companies "established and maintained a specific, identifiable and uniform finance charge markup system. Under the system, car dealers add non standard, subjectively determined finance charge markups to minority customers' financing agreements, charging African American customers higher markups than similarly situated white customers, irrespective of credit worthiness or other legitimate business reasons."

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