OTHER NEWS - March 20, 1995

U.S. Probes Chrysler, Ford Lending Practices: Chrysler Corp. and its finance unit have been asked for details about consumer lending practices by the Justice Department, which also is investigating whether Ford Motor Co. broke federal lending discrimination laws. Chrysler and its Chrysler Financial Corp. unit “have received an informal request for information from the Justice Department and, as is our practice, we are cooperating fully,” said Karen Stewart, a Chrysler spokeswoman. In a form that Ford filed with the Securities and Exchange Commission, the company said Ford and its finance unit, Ford Motor Credit Co., are being investigated by the Justice Department and the Federal Trade Commission to see whether they complied with the Equal Credit Opportunity Act of 1968. Lawyers familiar with the Justice Department said they believe the Ford case focuses on whether Ford Credit charged higher rates of interest for car loans to minorities than to whites.