Two major banks discussing possible settlements of class actions filed by black consumers

Black consumers contend they were charged more for auto loans than whites

Banks involved are Bank of America Corp and JP Morgan Chase & Co's Bank One unit

Plaintiffs asking banks to limit how much auto dealers can add on to financing rates

Lawsuits contend dealers increase cost of loans more for black borrowers than for whites

Both banks let dealers add as much as 3 percentage points to APR banks would offer consumer

Settlement could lead to cheaper loans for all car buyers by curbing industry practices

In 2004, GMAC agreed to cap loan markup at 2.5% as part of a settlement

Study 1.5M+ GMAC loans over 4-years: blacks paid of $1,229 compared w/ $867 for whites