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Violation Tracker Individual Record

Company: Credit Acceptance Corporation
Current Parent Company: Credit Acceptance Corp.
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $27,200,000
Year: 2021
Date: September 1, 2021
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: toxic securities abuses
Mega-Scandal: Toxic Securities
Violation Description: National subprime auto lender Credit Acceptance Corporation agreed to pay more than $27 million to settle a lawsuit brought by the Massachusetts Attorney General over a variety of alleged unfair practices relating to the company's role in the origination, collection, and securitization of subprime auto loans.
Level of Government: state
Action Type: agency action
Agency: Massachusetts Attorney General
Civil or Criminal Case: civil
Facility State: Massachusetts
HQ Country of Current Parent: USA
HQ State of Current Parent: Michigan
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: motor vehicle financing
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.