FTC Subprime Auto Lending Investigation Could Be Early Sign Of A Deteriorating Market

Credit Acceptance Corp. shares are down more than 5.1 percent on Friday after Bloomberg reported that the Federal Trade Commission has requested information from the company regarding its use of ignition kill switches and GPS systems in debt collection. Kill switches in vehicles allow lenders to turn off vehicles when borrowers fall behind on payments, and GPS tracking allows lenders to easily locate vehicles for repossession.