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Credit Acceptance Corp.

Credit Acceptance’s Steve Jones to Retire

The subprime finance source’s president since April 2007 will retire on June 30, CEO Brett Roberts announced in a recent regulatory filing.

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Credit Acceptance's Founder Announces Retirement

Donald Foss, the subprime finance source's founder and chairman, has decided to retire, the company announced on Jan. 4. The company stated in its announcement that it does not plan to fill the role of chairman. In Foss' absence, Thomas Tryforos will lead the board of directors.

Ally Subpoenaed By DOJ

On the same day the U.S. Department of the Treasury sold the last of its remaining 54.9 million shares of Ally common stock, Ally Financial revealed that it has received a subpoena from the Department of Justice related to subprime auto lending.

Credit Acceptance Corp. Keeping “Close Eye” on CFPB

In its second quarter earnings call, Credit Acceptance Corp. noted that its relationships with industry associations have kept it up to speed on looming regulations.

Missouri AG Reaches $125K Agreement With Auto Finance Company

Credit Acceptance Corp. settles complaint filed by the Missouri Attorney General over the auto finance company’s collections practices.

Credit Acceptance Increases Revenue, Adds Dealers

Subprime lender Credit Acceptance Corp. reported year-over-year improvements in net income and revenue for the first quarter of 2010. The company also added several new dealer partners and reported gains in loan volume and average loan volume per dealer.

Primed for a Comeback

With the capital markets on the mend, special finance could be on the comeback trail, that’s if bank regulators and financial services reform don’t get in the way. Insider breaks down the market.