Union Acceptance Corporation

Union Acceptance Corporation – Keeping Current

Tim Bush

A class-action lawsuit field Nov. in U.S. District Court in Chicago alleges that an Indianapolis-based car financing company routinely charges higher interest rates to blacks than to whites with similar financial backgrounds. According to the complaint, when African American Lyndah Wise went to buy a car from Dave Miller Olds-Isuzu in south suburban Matteson, Union Acceptance Corporation charged her a higher rate. Wise’s attorney, Ken Wexler, said Union Acceptance “motivates” dealers to boost the rate “basically based on the dealer’s perception of how sophisticated the person is. They size you up when you walk in.”

COPYRIGHT 2002 Community Renewal Society

COPYRIGHT 2002 Gale Group