In the long and recurring human struggle between financial access and financial exploitation, Credit Acceptance Corporation — one of America's largest subprime auto lenders — has agreed to pay between $694 and $710 million to settle allegations that it crossed the line from serving vulnerable borrowers to preying upon them. Coordinated by state attorneys general across multiple states including Georgia, Arkansas, Oregon, and New Hampshire, the settlement will deliver direct relief to thousands of consumers who sought only the modest dignity of reliable transportation. It is a reminder that mar
Credit Acceptance to pay $694M in multistate settlement over predatory auto lending
Thousands of consumers were subjected to predatory auto lending practices, resulting in financial harm that the settlement aims to remedy.