Subprime Auto Lender Credit Acceptance Subpoenaed by Maryland
- State attorney general looking into sales, repossessions
- DOJ, FTC other states are investigating lending practices
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Credit Acceptance Corp. received a subpoena from the Maryland attorney general regarding its repossession and sales policies, the subprime lender disclosed Monday.
The company said in its annual report that it received the subpoena on March 18. The firm is cooperating with the investigation and is in the process of providing requested information, Chief Executive Officer Brett Roberts said on the lender’s first quarter earnings call.