Credit Acceptance reaches $710 million predatory auto lending settlement with most US states

Credit Acceptance denied wrongdoing in agreeing to settle, and will not record additional charges beyond amounts it previously disclosed.

In a statement, Chief Executive Vinayak Hegde called the settlement “constructive, customer-focused and consistent with the direction of regulatory expectations in our industry.”

Thursday's settlement also resolved a lawsuit in Manhattan federal court that James and the U.S. Consumer Financial Protection Bureau filed against Credit Acceptance in January 2023.

The CFPB withdrew from that case in April 2025, calling its withdrawal “consistent with principles of justice and fairness.” That agency has curtailed much of its enforcement activity during U.S. President Donald Trump's second White House term.

Credit Acceptance shares were down 1.5% at in afternoon trading.