American Honda Finance Corp, the U.S. lending arm of carmaker Honda Motor Co Ltd, said on Tuesday that American law enforcement agencies are preparing to charge the finance company with discriminatory pricing of loans made through auto dealerships.
The U.S. Department of Justice collected a record $24.7 billion in penalties from fraud and other cases in fiscal year 2014, the agency said on Wednesday, as fines against banks for financial misconduct soared. Collections from civil and criminal actions, including money collected on behalf of other agencies, was $8 billion in 2013, and $13 billion in 2012.
Morgan Stanley said on Tuesday it is responding to potential legal claims from government entities, including the U.S. Department of Justice and several state attorneys general over mortgage securities.
Korean carmakers Hyundai Motor Co and affiliate Kia Motors Corp will pay $350 million in penalties to the U.S. government for overstating fuel economy ratings in what officials said on Monday was the biggest settlement of its kind.
