Credit Acceptance Corporation.
CACC.US | Other credit granting
Credit Acceptance Corporation is an auto finance company that provides vehicle financing programs, enabling automobile dealers to sell vehicles to consumers regardless of their credit history. The company advances money to dealers in exchange for the right to service the underlying consumer loans. C...Show More
Better Health for All
0
No evidence available to assess Credit Acceptance Corporation on Better Health for All.
Fair Money & Economic Opportunity
-40
In 2023, 80.9% of consumer loans assigned had FICO scores below 650 or no FICO score.
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The company was sued by the U.S. Consumer Financial Protection Bureau and the New York Attorney General for allegedly charging exorbitant interest rates averaging 22% and violating state usury laws.
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It settled claims in Massachusetts for $27.2 million for allegedly making loans it knew consumers could not afford and charging an APR above 21 percent, violating state law.
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The lawsuit also alleged that the company made money by charging hidden finance fees, averaging $2,500, and that it earned about $3,100 profit in each transaction.
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The company faces ongoing regulatory matters, including a complaint filed by the Office of the New York State Attorney General and the Bureau in January 2023, alleging deceptive practices, fraud, and abusive acts.
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It also settled claims in Massachusetts for $27.2 million.
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There is little to no net improvement in customer credit scores or savings levels, with allegations that the company profits while decimating borrowers' finances and sets consumers up to fail by obscuring loan costs.
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The company provides financial education videos and articles, including courses on financial foundations and car financing, and offers a monthly payment calculator and car price calculator on its website.
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Consumers can access account information and payment channels through a mobile app, and dealers can use the Credit Approval Processing System (CAPS) to input applications and view responses.
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Fair Pay & Worker Respect
10
Credit Acceptance Corporation's CEO to median employee pay ratio was 12:1 in 2024, with CEO Kenneth S. Booth earning $1,018,553 and the median employee earning $87,832.
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The company experienced a 35% turnover rate over the past two years, which was compared to an average of 18% for American organizations.
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Compensation and benefits were cited by 48.57% of surveyed employees as the most influential factor for leaving.
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Fair Trade & Ethical Sourcing
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Credit Acceptance Corporation is an auto finance company, and its core business involves purchasing and servicing auto loans. This business model does not entail the procurement or trading of physical commodities, nor does it involve a supply chain that would typically require fair-trade certifications, audits for labor practices, or traceability of raw materials. Therefore, KPIs related to fair trade certification share, audit frequency for sourcing, forced/child labor incidents in upstream supply, traceability coverage, remediation speed for sourcing violations, ethical clause coverage in sourcing contracts, and materials risk index are not applicable to its primary operations. No specific quantitative data for any of the KPIs related to ethical sourcing performance is provided in the articles.
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Honest & Fair Business
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No evidence available to assess Credit Acceptance Corporation on Honest & Fair Business.
Kind to Animals
0
Credit Acceptance Corporation is an auto finance company, a service-oriented business.
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Its core operations do not involve products requiring cruelty-free certification or animal testing, animal-derived ingredients, animal husbandry, or direct sourcing of animal products.
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Therefore, for all relevant KPIs, the company's business model means these metrics are not applicable. No evidence was found in the provided articles to suggest any involvement in these areas.
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No War, No Weapons
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Credit Acceptance Corporation's core business is auto finance, with revenue derived from financing charges, premiums, and fees.
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There is no evidence of the company having any revenue from arms or defense contracts.
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The company reported $0 in lobbying expenditures for 2023 and 2024.
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As such, there is no evidence of lobbying related to arms control.
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Planet-Friendly Business
0
The provided articles do not contain specific, concrete data points for any of the KPIs related to Planet-Friendly Business. While some articles mention general environmental initiatives such as reducing electricity and water usage, and enabling remote work to reduce emissions, they do not provide quantitative metrics for these actions.
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There is no information on total emissions, renewable energy percentages, water use per revenue, waste diversion rates, science-based targets, green building certifications, supply chain transparency, biodiversity efforts, or climate-related financial disclosures.
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Therefore, no KPIs can be scored based on the evidence provided.
Respect for Cultures & Communities
0
The provided articles do not contain specific, concrete data points for any of the KPIs related to Respect for Cultures & Communities. Information available pertains to campaign finance
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, a legal dispute regarding predatory lending
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, general community service initiatives (volunteer efforts, charitable contributions)
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, and internal workforce diversity metrics from 2018
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. There is no evidence regarding formal partnerships with indigenous or local community groups, revenue reinvested in local community development, cultural appropriation incidents, cultural impact assessment protocols, local employment ratios, community grievance mechanisms, FPIC participation, community governance inclusion, cultural preservation investment, local procurement, indigenous supplier engagement, cultural site protection, social license to operate, charitable giving to cultural heritage organizations, community fund allocation, language inclusivity, cultural incident response, or cultural sensitivity training completion.
Safe & Smart Tech
0
Credit Acceptance Corporation has no recent security news or data breaches, according to an UpGuard report.
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The company states it incorporates responsible AI practices into its technology strategy, aiming to avoid bias in lending decisions.
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However, there is no specific data on the maturity or effectiveness of AI ethics governance, AI audit practices, or algorithmic transparency for the company.
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Similarly, there is no specific evidence regarding cybersecurity investment, privacy certifications, security training effectiveness, encryption implementation, unauthorized data use, user data control, vulnerability management, bug bounty effectiveness, privacy by design, security testing coverage, data minimization, regulatory compliance, algorithmic harm remediation, or digital rights advocacy.
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Zero Waste & Sustainable Products
-20
The company has no documented waste disposal violations, regulatory actions, or fines.
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No specific, concrete data points were found for any other KPIs under the 'Zero Waste & Sustainable Products' value.
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