Credit Acceptance Corporation (CACC)

Sep 22, 2026

A multistate settlement between Credit Acceptance Corp. and 41 attorneys general will provide $694 million in cash and debt relief to eligible consumers with subprime car loans. The settlement addresses allegations that the company offered predatory, high-cost deals, knowing many borrowers could not afford them. While Credit Acceptance denies wrongdoing, the deal includes debt forgiveness for some loans, changes to debt collection practices, and new consumer protections against deceptive add-on products.

Sep 18, 2026

A settlement with Credit Acceptance Corp., one of the largest lenders for car buyers with poor credit, will cancel approximately $462,871 in car-loan debt for 60 Vermonters and repay $124,841 to 87 others. The agreement, involving New York's attorney general and 40 other states, also mandates new rules for Credit Acceptance dealers, including price caps for risky borrowers, disclosure of falling-behind odds, and debt forgiveness for early repossessions. Nationally, the deal erases about $634 million in debt for over 55,000 borrowers.

Sep 17, 2026

Credit Acceptance Corp., a major subprime auto lender, has reached a $710 million settlement with 41 states over allegations of trapping low-income car buyers in high-risk loans designed to fail. The settlement includes $60 million in cash restitution for consumers, $388 million in debt relief for repossessed vehicles, and an additional $246 million in debt relief for current borrowers. The agreement also imposes strict operating restrictions on the company, including capping vehicle prices and monitoring dealer networks.

Sep 17, 2026

Credit Acceptance Corp (CACC.O) has agreed to a $710 million settlement with 40 U.S. states and Washington, D.C., resolving charges of predatory auto lending practices. The agreement includes forgiving $634 million in debt for over 55,000 borrowers, paying $60 million in restitution, and a $15.5 million penalty, while also requiring the company to change its lending practices. The company denied wrongdoing but called the settlement "constructive" and "customer-focused."