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Credit Acceptance Shares Slide on CFPB, N.Y. Attorney General Joint Lawsuit -- Update

Por: MarketWatch Business January 04, 2023

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The Southfield, Mich.-based autofinance company hid the true costs of its borrowings, tricking customers into high-cost loans on used cars, the CFPB and attorney general allege. They accused the company of subjecting car buyers to aggressive debt-collection tactics on loans its own systems predicted they couldn't afford to repay, CFPB Director Rohit Chopra said. Credit Acceptance violated New York usury laws on interest-rate limits and... + full article



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