Toyota Motor Credit Corporation ("TMCC") entered into a consent order, effective as of November 20, 2023 (the “Consent Order”), with the Consumer Financial Protection Bureau ("Bureau") relating to certain TMCC business activities, including the company’s: (1) financing and servicing of contracts for vehicle protection products and services sold with vehicles (often referred to as “add-on” or “optional” products); and (2) the furnishing of information to consumer reporting agencies under the Fair Credit Reporting Act ("FCRA") in connection with the termination of their lease.
In accordance with the terms of the Consent Order, TMCC developed a redress plan (the “Plan”) for the purpose of administering redress payments to certain consumers affected by the conduct addressed in the Consent Order.
This website provides information and resources for consumers regarding the Consent Order and the remediation being provided by TMCC under the Plan. Please refer to the Consent Order, a copy of which is available in the “Documents” section of this website, for additional information regarding the Bureau’s review of TMCC’s conduct and the terms of this remediation.
The table below summarizes the categories of consumers who will receive, or who are eligible to receive, redress payments under the Consent Order.
| Affected Consumer Group | Description |
| GAP Refunds | Select consumers identified by Toyota Motor Credit Corporation whose Vehicle Financing Contract was originated after January 1, 2016, and was prepaid on or after July 1, 2018, and who purchased Guaranteed Auto Protection and did not receive a refund of their unearned premium. |
| VSA Refunds | Select consumers identified by Toyota Motor Credit Corporation who cancelled a Vehicle Service Agreement after January 1, 2016, and did not receive the full refund amount the consumer was entitled to under the Vehicle Service Agreement. |
| FCRA-Related Redress | Select consumers previously identified by TMCC as requiring redress due to inaccurate credit reporting by TMCC due to delays in processing the return of a leased vehicle. |
* “Dealer” means an automobile dealer that has executed and maintains an active automotive vehicle dealer agreement with TMCC.
** “Vehicle Financing Contract” means either a vehicle lease contract or a vehicle retail installment contract that has been assigned by a Dealer and purchased by TMCC.