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Credit Acceptance Corp makes used-car loans to subprime borrowers. CACC has a different model than most used-car lenders. Instead of the typical subprime auto-lending arrangement where the dealer originates the loan and the lender buys the loan at a slight discount, CACC partners with the deale...
If the AOF (Account Opening Form) has been correctly completed and all formalities/requirements met to bank’s satisfaction the bank official i.e. the approver will approve the acceptance of the opening of the account giving his signature with bank’s rubber stamp affixed and...