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Honda finance to pay $24M for discriminatory lending practices

Honda has found itself in hot water in the United States over allegations of discriminatory lending practices. However the Japanese automaker's American subsidiaries are taking actions to not only alter its practices, but compensate the victims of such past discrimination. According to the Consumer Financial Protection Bureau, some Honda dealers were found to have offered less preferential loans to customers of African-American, Hispanic, Asian, and Pacific Islander ethnicities than they have offered to white customers, irrespective of their individual financial situations. The American Honda Finance Corporation has allowed dealers to mark up individual loans by two percent or more, depending on the length of the loan's contract, thereby opening the door for dealers to set interest rates at their discretion. And that discretion, according to the CFPB and the Department of Justice, has been applied in a discriminatory fashion, in violation of the Equal Credit Opportunity Act. Honda, for its part, refutes the allegations and maintains that its practices have not been racially or ethnically discriminatory. The company is nevertheless taking measures to address the charges. For one thing, Honda's US financial arm is reducing the amount of wiggle-room it gives its dealers to only 1.25 percent above the buy rate for short-term loans (5 years or less), and one percent for longer-term loans. It has also set up a $24-million fund to compensate victims of the alleged discrimination, coordinating with the CFPB on the dispersal of said funds. The CFPB reports that "because of Honda's responsible conduct," it is not seeking penalties to be levied against the company for the alleged discrimination. STATEMENT BY AMERICAN HONDA FINANCE CORPORATION RE: Settlement with the Department of Justice and Consumer Financial Protection Bureau Jul 14, 2015 -- American Honda Finance Corporation (AHFC) has reached an agreement with the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) that shows our commitment to work together to be part of the solution and to establish the path forward that best supports our Honda and Acura customers and dealers with clear and convenient financing options. AHFC strongly opposes any form of discrimination, and we expect our dealers to uphold this principle as well. We firmly believe that our lending practices have been fair and transparent.

1991 Acura NSX Luggage Test: Will a Motocompacto fit in the trunk?

I know I know, the wait has been killing you. From the second the Honda Motocompacto electric scooter/suitcase was introduced, you've desperately been begging the universe to answer the following question: "Will the Honda Motocompacto fit in the trunk of a 1991 Acura NSX?" Believe me, the suspense was killing me, too. Well, rest assured, your answer is finally here.  I stumbled upon old friend Tyson Hugie and his predictably pristine 1991 Acura NSX at Radwood Socal two weekends ago. While chatting about my/his old Acura TSX finding a new home with a collector in North Carolina, a gentleman on a Honda Motocompacto whizzed by and finally pulled up to a stop among the small group of people gathered around the NSX and an Integra Type R. We initially thought it had been brought by the Honda PR rep who was attending Radwood (he did in fact have one in his trunk, an Acura 2.3 CL), but it actually belonged to the person riding it. Patrick Vidal had only just got his Motocompacto the previous Monday, but had already put it to work as his last-mile transport. He says it fits behind his seat in his Toyota MR2 Spyder, as if this story couldn't get more rad. As I stood there with Tyson and Patrick chatting about life with Honda's latest creation, I started staring at the back end of Honda's finest creation. Then I looked back at the Motocompacto ... and back again at the NSX.  "Um, do you think that would fit in the NSX's trunk?" I asked, turning to Tyson. "Oh, that's happening," he quickly replied. We asked Patrick if he'd be game, and no shocker, he was. Tyson cleared out the trunk and Patrick started the process of transforming the Motocompacto from a scooter into luggage.  The transformation is certainly not a seamless process. There's lots of steps, and Patrick said that he's still getting the hang of remembering all the bits and pieces. Again, though, he'd only had the thing for five days.  Initially, I doubted the Motocompacto would fit, but as it got smaller and NSX trunk got emptier, I got a lot more confident. "OK, let's do this," said Mr. Luggage Test, rubbing his hands together.  Officially, the 1991 Acura NSX was listed as having 5 cubic-feet of trunk volume. That's actually the same as my 1998 BMW Z3's trunk, but when you're talking about such a small amount, the shape of the space really matters and in this case, the NSX trunk is basically a big rectangular cavity with a protrusion from the engine bay.  OK, let's get to the bags.

Honda CR-V caught wearing facelift in Europe

A few years on from its 2011 debut, the current Honda CR-V is preparing to go under the knife for a refresh. Typical of these sort of mid-cycle deals, the changes for Honda's popular CUV are minor.
The front of the car is home to the most dramatic (a relative term here) changes, with revised headlights sporting what looks like a slimmer profile. The three-bar grille has been heavily tweaked and is now a two-bar item, with a larger lower bar and a nose badge that covers both upper and lower sections.
The fascia itself has been modified with what looks like a larger lower intake, while the foglights have gone from the circular pattern of the current car to a rectangular pattern on the facelifted model. It looks like they'll still sport conventional bulbs, although the shape of the lights themselves look like a natural fit for a set of LED running lights (as is the trend).