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The company operates two programs: the "Portfolio Program" and the "Purchase Program". Through these programs, the company can advance money to automobile dealers in exchange for the right to service the underlying consumer loans and can buy the consumer loans from automobile dealers. Credit Acceptance reported annual revenue of $1.49B for 2019 ...
Credit Acceptance (CACC) agrees to pay $27.2 million to settle the lawsuit filed by the Massachusetts Attorney General in August 2020 claiming that the company deceived auto-lending practices.
The California State Assembly passed a law in 2020 that set an interest rate cap on all loans from $2,500-$10,000 with that title loans were included. In 2020 California State Assembly set a 30% cap on all auto title loans of at less than $2,500.
Moody's Investors Service ("Moody's") has assigned provisional ratings to the notes to be issued by Credit Acceptance Auto Loan Trust 2020-2 (CAALT 2020-2). This is the second securitization of ...
Fortunately for borrowers whose credit scores may have improved since they first financed their car, auto loan refinancing can possibly lower the APR a driver may currently be paying on their loan ...
General Motors Financial Company, Inc. is the financial services arm of General Motors.The company is a global provider of auto finance, with operations in the United States, Latin America, Canada, Europe (which was sold to PSA Groupe and BNP Paribas following the sale of GM's core area businesses Opel and Vauxhall in a $2.2 billion deal), and China.
Rating Action: Moody's upgrades Credit Acceptance Auto Loan Trust 2019-3 notesGlobal Credit Research - 11 Mar 2022Approximately $114 million of debt securities affectedNew York, March 11, 2022 ...
Donald A. Foss (1943 or 1944 – August 14, 2022) was an American billionaire businessman, the founder, chairman, and CEO of the subprime car finance company Credit Acceptance. At his death, his net worth was estimated at US$2 billion.