Credit Acceptance Corp to pay penalty, forgive debt to resolve consumer protection case
CACC•Settlement to resolve consumer protection allegations
Credit Acceptance Corp CACC.O will pay $75.5 million, forgive more than $630 million of consumer debt, and reform its lending practices to resolve allegations by 41 U.S. state attorneys general that the subprime auto lender violated various consumer protection laws, Minnesota Attorney General Keith Ellison said on Thursday.
