SACRAMENTO, Calif., Sept. 17 -- The California Attorney General issued the following press release:
OAKLAND - California Attorney General Rob Bonta today joined a coalition of 40 attorneys general in announcing a settlement (https://oag.ca.gov/system/files/attachments/press-docs/credit-acceptance-consent-judgment-ca-final-signed.pdf) with Credit Acceptance Corporation (CAC), one of the nation's largest auto finance companies, resolving allegations (https://oag.ca.gov/system/files/attachments/press-docs/complaint_5.pdf) that CAC engaged in unlawful business practices, including originating auto loans it knew were likely to default. Today's settlement, which is subject to court approval, provides $694 million in cash and debt relief to consu...