reports
Credit Acceptance Welcomes CFPB’s Withdrawal From Lawsuit
Credit Acceptance Welcomes CFPB’s Withdrawal From Lawsuit Southfield, Michigan, April 24, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that on April 24, 2025, the Consumer Financial Protection Bureau (“CFPB”) filed an unopposed motion to withdraw from the lawsuit that it initiated jointly on January 4, 2023, with the Office of the New York State Attorney General (NYAG) against Credit Acceptance in the United States District Court for the Southern District of New York. As of t...
Credit Acceptance Announces Timing of First Quarter 2025 Earnings Rele...
Credit Acceptance Announces Timing of First Quarter 2025 Earnings Release and Webcast Southfield, Michigan, April 23, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we expect to issue a news release with our first quarter 2025 earnings on Wednesday, April 30, 2025, after the market closes. A webcast is scheduled for Wednesday, April 30, 2025, at 5:00 p.m. Eastern Time to discuss first quarter 2025 earnings. Conference Call and Webcast Information:Date: Wednesday, April ...
Credit Acceptance Recognized with Multiple 2025 Top Workplaces Spring ...
Credit Acceptance Recognized with Multiple 2025 Top Workplaces Spring Culture Excellence Awards Southfield, Michigan, April 23, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) is proud to announce our recognition as a 2025 Spring Culture Excellence Top Workplaces award winner in the following five categories: Work-Life Flexibility, Leadership, Innovation, Purpose & Values, and Compensation & Benefits. “These awards are a reflection of what makes our culture special,” said Wendy Rummler, Chief ...
Credit Acceptance Celebrates Being Named No. 34 on Fortune’s 2025 100 ...
Credit Acceptance Celebrates Being Named No. 34 on Fortune’s 2025 100 Best Companies to Work For® List Southfield, Michigan, April 03, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of the 100 Best Companies to Work For® by Great Place To Work® and Fortune magazine in 2025. We received this accolade for the eleventh time, ranking #34, up five spots from last year. "Our team thrives in an award-winning culture where they love coming to work because they know they can make ...
Credit Acceptance Announces Completion of $400.0 Million Asset-Backed ...
Credit Acceptance Announces Completion of $400.0 Million Asset-Backed Financing Southfield, Michigan, March 27, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $400.0 million asset-backed non-recourse secured financing (the “Financing”). Pursuant to this transaction, we conveyed loans having a value of approximately $500.2 million to a wholly owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: Note Class Amount Ave...
Credit Acceptance Named 2025 Top Workplaces USA Award Winner
Credit Acceptance Named 2025 Top Workplaces USA Award Winner Southfield, Michigan, March 20, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named a 2025 Top Workplaces USA award winner for the fifth consecutive year. We made it into the Top 10 again this year, with a #2 ranking in the 1,000-2,499-employee size category, up 7 spots from last year. The award is due to the passion and commitment of Credit Acceptance’s 2,400+ team members and the culture they foster, which is centered ar...
Credit Acceptance Announces Closing of $500.0 Million Senior Notes Off...
Credit Acceptance Announces Closing of $500.0 Million Senior Notes Offering and Completion of Redemption of Senior Notes Due 2026 Southfield, Michigan, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the closing of the Company’s previously announced offering of $500.0 million aggregate principal amount of its 6.625% senior notes due 2030 (the “notes”) at an issue price of 100% of the principal amount of the notes in a private offering exempt from registration under the ...
Credit Acceptance Announces Conditional Notice of Redemption for Outst...
Credit Acceptance Announces Conditional Notice of Redemption for Outstanding Senior Notes Due 2026 Southfield, Michigan, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that it has delivered a conditional notice of redemption to the trustee for the Company’s 6.625% senior notes due 2026 (the “2026 notes”). The notice of redemption calls for the redemption of all of the outstanding $400.0 million aggregate principal amount of 2026 notes (the “redemption”) on February 28,...
Credit Acceptance Announces Pricing of $500.0 Million Senior Notes Off...
Credit Acceptance Announces Pricing of $500.0 Million Senior Notes Offering Southfield, Michigan , Feb. 13, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that it priced $500.0 million aggregate principal amount of its 6.625% senior notes due 2030 (the “notes”) in its previously announced offering at an issue price of 100% of the principal amount of the notes. The $500.0 million aggregate principal amount of the notes represents an increase in the offering size from the previou...
Moody's Ratings assigns Ba3 rating to Credit Acceptance's senior unsec...
Moody's Ratings (Moody's) has assigned a Ba3 rating to Credit Acceptance Corporation's (CAC) proposed $400 million senior unsecured notes due 2030. The proceeds of the issuance will be used primarily to repay the firm's outstanding $400 million senior unsecured notes due in 2026. RATINGS RATIONA...
Credit Acceptance Announces $400.0 Million Senior Notes Offering
Credit Acceptance Announces $400.0 Million Senior Notes Offering Southfield, Michigan, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that it plans to offer $400.0 million aggregate principal amount of senior notes due 2030 (the “notes”). We intend to use the net proceeds from the offering of the notes, together with cash on hand, to fund the redemption of all of our $400.0 million outstanding 6.625% senior notes due 2026 (the “2026 notes”), in accordance with the term...
Credit Acceptance Announces Fourth Quarter and Full Year 2024 Results
Credit Acceptance Announces Fourth Quarter and Full Year 2024 Results Southfield, Michigan, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) today announced consolidated net income of $151.9 million, or $12.26 per diluted share, for the three months ended December 31, 2024 compared to consolidated net income of $93.6 million, or $7.29 per diluted share, for the same period in 2023. Adjusted net income, a non-GAAP financial measure, for the three months ended December 31, 2024 was $126.0...
Credit Acceptance Announces Timing of Fourth Quarter 2024 Earnings Rel...
Credit Acceptance Announces Timing of Fourth Quarter 2024 Earnings Release and Webcast Southfield, Michigan, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we expect to issue a news release with our fourth quarter 2024 earnings on Thursday, January 30, 2025, after the market closes. A webcast is scheduled for Thursday, January 30, 2025, at 5:00 p.m. Eastern Time to discuss fourth quarter 2024 earnings. Conference Call and Webcast Information:Date: Thursday, Ja...
Credit Acceptance Announces Completion of $300.0 Million Asset-Backed ...
Credit Acceptance Announces Completion of $300.0 Million Asset-Backed Financing Southfield, Michigan, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $300.0 million asset-backed non-recourse secured financing (the “Financing”). Pursuant to this transaction, we conveyed loans having a value of approximately $375.1 million to a wholly owned special purpose entity that will pledge the loans to institutional lenders under a loan and security agreement. We will issue th...
Credit Acceptance Celebrates its 10th Year as a Best Place to Work in ...
Credit Acceptance Celebrates its 10th Year as a Best Place to Work in IT by Computerworld Southfield, Michigan, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of the Best Places to Work in IT by Computerworld for the 10th year. Credit Acceptance ranked #8 among midsize companies. This award recognizes companies with comprehensive tech-led strategies that foster an inclusive, supportive, and growth-oriented workplace. “Our Engineering team continues to be at the for...
Credit Acceptance Announces Increase and Extension of Revolving Secure...
Credit Acceptance Announces Increase and Extension of Revolving Secured Warehouse Facility Southfield, Michigan, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have increased the amount of Warehouse Facility V (the “Facility”), one of our revolving secured warehouse facilities, from $200.0 million to $250.0 million. We also extended the date on which the Facility will cease to revolve from December 29, 2025 to December 29, 2027. The maturity of the Facility was...
Credit Acceptance Named a 2024 Top Workplace in Michigan by the Detroi...
Credit Acceptance Named a 2024 Top Workplace in Michigan by the Detroit Free Press Southfield, Michigan, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named a winner of the 2024 Detroit Free Press Top Workplaces. We ranked #2 among the top large companies in Michigan, the same as a year ago. This is the 13th year in a row that the Company has been recognized with this award by the Detroit Free Press. We also received the prestigious Managers Specialty Award for our leaders’ ...
Credit Acceptance Announces Third Quarter 2024 Results
Credit Acceptance Announces Third Quarter 2024 Results Southfield, Michigan, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) today announced consolidated net income of $78.8 million, or $6.35 per diluted share, for the three months ended September 30, 2024 compared to consolidated net income of $70.8 million, or $5.43 per diluted share, for the same period in 2023. Adjusted net income, a non-GAAP financial measure, for the three months ended September 30, 2024 was $109.1 million, or $8...
Credit Acceptance Again Named a Best Workplace for Women™ by Fortune
Credit Acceptance Again Named a Best Workplace for Women™ by Fortune Southfield, Michigan, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of the 2024 Best Workplaces for Women™ by Great Place to Work® and Fortune for the sixth time. We ranked #29 on the Top 100 Large Company list, up 47 spots from last year. “With nearly 60% of our workforce being women, empowering female team members is imperative to our business success,” said Wendy Rummler, Chief People Officer....
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