Toyota financing arm fined $60 million by CFPB for car loan fraud.

Toyota’s financing branch was fined $60 million by a federal consumer regulator for infringing on car buyers’ rights to cancel add-ons to their loans. The Consumer Financial Protection Bureau accused Toyota’s lending arm of illegally withholding refunds and making it difficult for borrowers to cancel unwanted services, ultimately tarnishing their credit reports. The average cost…

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Workers at UAW-Ford approve new contract

Ford Motor’s UAW Union Members Approve Tentative Labor Agreement After contentious negotiations, union members at Ford Motor approved a tentative agreement, concluding contract negotiations between the United Auto Workers and Detroit automakers. The UAW-Ford workers were the last of the automakers to ratify their pact, following General Motors workers who narrowly approved an agreement Thursday…

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Increase in Driver-Assist Technology Adoption in China’s Truck Industry

China’s truck industry is rapidly shifting towards purchasing vehicles with assisted-driving technology. This shift is crucial for the industry’s monetization in a business that has attracted vast investment but shown limited results so far. The market has seen a major transformation from being dominated by individual drivers to fleet operators holding the majority share. Currently,…

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