Credit Acceptance reaches $710 million predatory auto lending settlement with most US states

posted by Kristi Wachter on September 27, 2026

Resistance is

Credit Acceptance Corp agreed to a $710 million settlement with 40 ‌U.S. states and Washington, D.C. to resolve charges it drove thousands of borrowers with low incomes and low credit scores into predatory auto loans it knew they could not afford.

Reuters Jonathan Stempel September 17, 2026

Excerpt:

The settlement announced on Thursday also resolves claims that Credit Acceptance, one of the nation's largest subprime auto lenders, helped car dealers push consumers to buy add-on products, such as vehicle service contracts, and insurance that they did not ⁠need or were never told about.

The Misinformation Monitor newsletter rounds up international misinformation narratives, with a "Real or Fake?" quiz in every edition. Sign up here.

Many borrowers ended up defaulting or having their vehicles repossessed, the states said.

Credit Acceptance will forgive $634 million of debt owed by more than 55,000 borrowers who took out loans between November 2015 and November 2025, pay $60 million in restitution to thousands of other borrowers, and pay a $15.5 million penalty, New York Attorney General Letitia James said.

Read the whole thing:

Credit Acceptance reaches $710 million predatory auto lending settlement with most US states

Via:

Extra! Extra! 9/20

posted by Kristi Wachter on September 27, 2026

Want more good news?

Find more news about resistance, victories, and hopeful trends: weekly Extra! Extra! posts from Chop Wood, Carry Water; biweekly Just Good News posts from the Americans of Conscience Checklist; and Your Daily Dose of Climate Hope - plus pro-democracy protest photos every day from Today's Edition Newsletter.

October 17 - Vote Early Day

Join in a national day of voter participation on October 17 - join your neighbors in helping eligible voters understand their options and make a voting plan.

Check your voter registration
Make a plan to vote early
Help your friends and neighbors make a plan to vote early

Find events near you

Other things you can do:

Connect with Indivisible - join a local group or take action on your own or with friends
Use 5calls to call your legislators about whatever matters most to you
Check out Mobilize to find protests, postcard-writing parties, virtual events, and volunteer opportunities.

Now is a great time to take action.

Take Action

You can make a difference.

It's okay to start small.

Connect with Indivisible. They have groups all over the country and actions you can take on your own or with others.
Use 5calls to call your legislators about whatever matters most to you.
Check out Mobilize to find protests, postcard-writing parties, virtual events, and volunteer opportunities.

Action is the antidote to fear and despair.

Even doing small things - learning more about how we can strengthen our democracy, sharing what you know with others, making a phone call - can make a difference.

Right now is a great time to take action.