Credit Acceptance Corp. settles alleged UDAP violations

Subprime lender to pay $325K to the state of Mississippi and $125K to charity

© Can Stock Photo / kvkirillov

Credit Acceptance Corp. (CAC) has settled with the Mississippi Attorney General’s Office on allegations that the Southfield, Mich.-based lender engaged in unfair and deceptive practices in its financing of optional vehicle service contracts, a violation of the state’s Consumer Protection Act. The complaint was first filed in the Chancery Court of the First Judicial District […]

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