Credit Acceptance Faces Lawsuit for Alleged Unfair Auto Loans

A lawsuit has been filed against Credit Acceptance Corporation for allegedly making unfair and deceptive auto loans to Massachusetts consumers, providing investors with false or misleading information regarding auto securities, and engaging in unfair debt collection practices, according to Attorney General Maura Healey.

• The complaint filed in Suffolk Superior Court alleges that since 2013, Credit Acceptance failed to inform investors that the company topped off the pools of loans that they packaged and securitized with higher-risk loans, despite claiming otherwise in disclosures to investors
• The complaint also alleges that the company has made high-interest subprime auto loans to Massachusetts ...