(Reuters) – sling The U.S. Consumer Financial Protection Bureau on Friday ordered the U.S. financial arm of (NYSE:) to pay $12.8 million for submitting inaccurate information that affected the credit reports of 300,000 drivers of Honda and Acura vehicles. .
The CFPB said American Honda Finance deferred loan payments for some drivers during the COVID-19 pandemic, only to later report to credit reporting agencies that the drivers were delinquent when they should have been reported as current.
“False allegations on a credit report can have serious implications for Americans looking for work, housing or a loan,” CFPB Director Rohit Chopra said in a statement criticizing the financial arm's “careless practices.”
The $12.8 million payment includes a $2.5 million civil penalty and $10.3 million in restitution to the drivers.
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