Credit Acceptance reaches multistate resolution with $75.5 million in payments
Credit Acceptance ($CACC) reached consent judgments with New York and 40 other state attorneys general involving $60 million of consumer relief and $15.5 million for investigative and legal expenses. The arrangement also includes waiving specified customer balances. The company is not admitting wrongdoing, and the cash obligations were previously accrued, so it expects no additional charge from those amounts. The resolution addresses the New York litigation and a multistate investigation into th
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