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Enforcement and Lawsuits
Enforcement and Lawsuits in Lenders: the news, the names and what changed.
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Consumers and states awarded $694 million after predatory auto lender settles lawsuit
5+ day, 11+ hour ago (455+ words) An estimated 55,000 consumers will benefit from a $694 million class action settlement against a predatory auto lender reached by attorneys general (AGs) in 40 states and the District of Columbia. The settlement announced on September 18 with Credit Acceptance Corporation (CAC), one of…...
Subprime Lender Settles Lawsuit For Issuing Loans To Borrowers It Knew Couldn't Pay For Vehicles
6+ day, 15+ hour ago (15+ words) ...
Del. part of $183.5M settlement with subprime auto lender
2+ week, 3+ day ago (401+ words) Delaware and 40 other states have entered into a settlement with Credit Acceptance Corporation, gaining $694 million in cash and debt relief to consumers, with Delaware receiving $183,523.24. CAC is one of the nation’s largest auto finance companies, providing car loans to consumers…...
Hawai??i announces settlement with Credit Acceptance Corporation over car loans
1+ week, 2+ day ago (718+ words) Hawaiʻi announces settlement with Credit Acceptance Corporation over car loans Maui Now HawaiÊ»i announces settlement with Credit Acceptance Corporation over car loans The HawaiÊ»i Department of Commerce and Consumer Affairs Office of Consumer Protection announced that HawaiÊ»i…...
Utah consumers to receive nearly $1.9 million in Credit Acceptance settlement
1+ week, 4+ day ago (475+ words) SALT LAKE CITY — More than 120 Utah consumers are expected to receive restitution or debt relief as part of a $694 million multistate settlement with Credit Acceptance Corporation, one of the nation’s largest subprime auto lenders. The Utah Attorney General’s Office and…...
Settlement Stops Online Lender???s Nearly 700% Interest Rates
1+ week, 5+ day ago (136+ words) A court-approved settlement bars online lender Plain Green from issuing loans that violate Minnesota’s interest-rate limits. Attorney General Keith Ellison’s office alleged the company charged Minnesota customers interest rates approaching 700 percent. Plain Green may now collect only the original principal…...
NY Attorney General and 39 States Secure $700M Settlement with Credit Acceptance Corp
1+ week, 5+ day ago (1523+ words) ACA International is governed by a Council of Delegates, consisting of representatives from each regional Unit and each Division of membership, and Board of Directors, chosen by the Council of Delegates. The Board of Directors empowers and oversees a variety…...
RedotPay Obtains Two State Lending Licenses To Grow US Regulatory Portfolio
1+ week, 5+ day ago (23+ words) RedotPay secures lending licenses in Idaho and Nebraska, expanding its U.S. regulatory footprint ahead of a future launch, with 20+ more applications filed....
Credit Acceptance reaches $710 million predatory auto lending settlement with most US states
2+ week, 3+ day ago (443+ words) NEW YORK (Reuters) – 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…...