Ford Motor Company (NYSE: F) said Wednesday that it is investigating allegations that some of its loan agreements are riddled with false statements.
The Ford finance and insurance division is investigating reports that some loan agreements may not be valid and could potentially cost taxpayers money, Ford said in a statement.
“We take all matters of fraud and abuse very seriously and will respond appropriately, the statement said.
Ford, which is seeking to buy a majority stake in Fiat Chrysler Automobiles NV (NYSE :FCAU), said it will also launch a comprehensive review of all loan agreements.
The company is also reviewing Ford’s relationships with financial institutions and consumer credit bureaus, Ford spokeswoman Sarah O’Reilly said.
The scandal has prompted Ford to revise its loan programs and said it would make changes to its loan-guarantee agreement with Citibank.