Reported: Credit Acceptance Corporation CACC (Company)
Compiled by ScamMarketCap from public recordsHappened Sep 17, 2026United States
Credit Acceptance Corporation (CAC) is a subprime auto lender serving borrowers with low or no credit scores. New York's attorney general sued it in January 2023 together with the Consumer Financial Protection Bureau, which later dropped its case. The states alleged that CAC made loans it knew or should have known borrowers could not afford, hid their cost, and let dealers pack loans with unwanted add-on products. According to New York, the average CAC loan carried an annual interest rate above 38 percent, and nearly half of borrowers had their cars repossessed.
On September 17, 2026, CAC settled with New York and with attorneys general for about 40 other states. The settlement provides $694 million in cash and debt relief: $60 million in restitution, $388 million in debt relief for borrowers whose cars were repossessed and $246 million for those who kept their cars. New York said all remaining debt will be erased for more than 55,000 consumers.
The settlement took effect on November 2, 2026. CAC must notify borrowers who qualify for debt relief, and a claims administrator will contact those owed restitution.
This case file is compiled from public records and established reporting. Status as of the last update, Nov 3, 2026.
Case files summarize court records, regulator actions and established reporting.
Did this happen to you too? Share what you know: dates, amounts, names used, websites and wallet addresses.
to comment. It takes one email.
Case files summarize court records, regulator actions and established reporting.
Sign in to add yourself. Only the totals are public.
Comments
Did this happen to you too? Share what you know: dates, amounts, names used, websites and wallet addresses.