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 |
| Loyalty-Related Redress – Dealer Issues | Any consumer identified by TMCC as a consumer who contacted TMCC after January 1, 2016 to cancel an unwanted vehicle protection product based on a Dealer* sales or servicing issue, but ultimately did not cancel the product. |
| Loyalty-Related Redress – Other Issues | Any consumer identified by TMCC as a consumer who contacted TMCC after January 1, 2016 to cancel an unwanted vehicle protection product for any reason other than a Dealer sales or servicing issue, but ultimately did not cancel the product. |
| GAP Refunds | Any consumer 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. |
| CLAH Refunds | Any consumer whose Vehicle Financing Contract was originated after January 1, 2016 and was prepaid on or after July 1, 2018 and who purchased a Credit Life and Accident Health plan. |
| VSA Refunds | Any consumer who cancelled a Vehicle Service Agreement after January 1, 2016 and was not paid the full refund amount the consumer was entitled to receive under the Vehicle Service Agreement based upon system logic issues described in the Consent Order. |
| FCRA-Related Redress | Any consumer among the population of 27,507 consumer accounts 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.