DETROIT -- Ford Motor Co.'s finance arm agreed to pay $760,000 this month to settle with U.S. regulators on an inquiry relating to its money market account program, the automaker said Thursday.
The Securities and Exchange Commission had sought information from Ford Credit in January 2004 regarding the use of certain marketing and solicitation materials related to the offering of debt securities under the program, the company said in a SEC filing.
No further details were available on the inquiry.
Ford Credit made the offer to settle after neither admitting nor denying any wrongdoing, according to the filing.
The terms of the settlement, which is subject to approval by the full Commission of the SEC, also requires Ford Credit to discontinue or change certain aspects of its marketing practices relating to the money market account program, the company said.