WASHINGTON — Nissan's U.S. lending arm agreed on Tuesday to pay a $4 million U.S. fine to settle a government agency's allegation that it improperly repossessed hundreds of consumers' vehicles.
The Consumer Financial Protection Bureau (CFPB) said that between 2013 and 2019, Nissan Motor Acceptance Corp (NMAC), a subsidiary of the Japanese automaker's North American unit, "wrongfully repossessed hundreds of consumers' vehicles despite the consumer having made payments" or taken other actions. Nissan must pay up to $1 million distributed to consumers subject to a wrongful repossession.
TOKYO — The financial misconduct trial of former Nissan executive Greg Kelly began Tuesday with Kelly saying he committed no crimes and was only trying to keep his star boss Carlos Ghosn from leaving.
The charges being heard at Tokyo District Court center on Kelly's alleged role in failing to report to Japanese authorities the future compensation of Ghosn, who led Nissan Motor Co. for two decades.
Japan's tax authorities have ordered Nissan Motor to pay additional taxes for failing to report income worth about 9.4 million dollars in the five years through March 2019.
Sources told NHK that the Tokyo Regional Taxation Bureau has determined that the undeclared income was used to pay for a corporate jet used by former Nissan chairman Carlos Ghosn and his family. Nissan also covered the rental costs of Ghosn's condominiums in Tokyo and Paris, and paid fees for a fictitious consulting contract with Ghosn's sister.
Some Japanese government officials are concerned that Washington may pressure Tokyo to pay significantly more for stationing US forces in Japan.
Bilateral negotiations on the cost will likely shift into high gear as early as this summer, with the current five-year agreement on the costs of supporting US forces due to expire in March 2021.