(Combined Sources) The Massachusetts attorney general alleges in a lawsuit that a national subprime auto lender made unfair and deceptive loans to thousands of residents, provided investors with false or misleading information regarding auto securities, and engaged in unfair debt collection practices. The office in a statement Monday said Credit Acceptance Corp. did not inform investors that the company topped off the pools of loans they packaged and securitized with higher-risk loans, despite claiming otherwise. The suit also alleges the company made high-interest loans it knew would not be repaid and harassed borrowers with frequent collection calls.
Massachusetts Attorney General Brings Lawsuit Against National Subprime Auto Lender
