Credit Acceptance agrees $75.5M settlement, $630M+ waivers
Credit Acceptance Corporation agreed to a $75.5M cash settlement plus over $630M in debt waivers and compliance commitments to resolve multistate and NY probes, and extended a $500M warehouse and $500M Term ABS to Sept 15, 2028 with lower margins and $180M outstanding.
5M cash settlement, more than $630M in debt waivers and compliance commitments to resolve multistate and New York probes. The company also extended a $500M warehouse and $500M Term ABS to Sept 15, 2028, with lower margins and $180M outstanding.