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Friday, April 02, 2004
Flat rate markups settle credit history racial controversy In a deal with New York Attorney General Eliot Spitzer, an auto dealer has agreed to charge flat rate markups on the interest charged by lenders, to eliminate the statistical higher charges paid by blacks and hispanics.
A Consumer Federation of America report indicated, on average compared to White consumers, that markups for African-American consumers were $350 to $500 more, and for Hispanics, $266 more. The dealer claimed that differences in his case were due to credit report contents, not racial bias.
4:28:27 PM 
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