CFA filed this amicus brief in the CFPB’s case targeting subprime auto finance company Credit Acceptance Corporation’s abusive auto finance practices. CAC targeted highly financially vulnerable consumers seeking to finance the purchase of a vehicle with its abusive auto finance contracts that were intentionally designed to extract as much money as possible from the consumer before falling into delinquency. CAC’s “designed to fail” model of auto financing relied on an algorithm that predicted the amount CAC could collect from the consumer to ensure that it made a profit, without regard for the disastrous impacts these high cost contracts had on consumers. For 39% of its financing contracts, CAC expected that its borrowers to fail.