Summary：Credit Acceptance Taps Joe Billante as New CFO, Succession Marks New EraSouthfield, Michigan, June 1

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Credit Acceptance Taps Joe Billante as New CFO, Succession Marks New Era

Southfield, Michigan, June 10, 2026 (GLOBE NEWSWIRE) - Credit Acceptance Corporation (Nasdaq: CACC), a pioneering financial services company that empowers automobile dealers to sell vehicles to consumers with subprime credit, today announced a significant leadership transition. Effective immediately, Joe Billante has been appointed as the Company's new Chief Financial Officer (CFO), succeeding Kenneth Booth, whose retirement marks the end of an era.

The appointment of Joe Billante as CFO is a strategic move that underscores Credit Acceptance's commitment to maintaining a robust financial framework. Billante brings to the role a wealth of experience in financial management, having held senior positions in several leading financial institutions. His expertise in financial planning, risk management, and investor relations is expected to be instrumental in driving the Company's continued growth and success.

The transition at Credit Acceptance occurs against a backdrop of a rapidly evolving automotive finance landscape. The subprime auto lending market, in which Credit Acceptance operates, is characterized by intense competition and stringent regulatory requirements. However, the Company's robust business model, coupled with its strong track record of innovation and adaptability, positions it well to navigate these challenges. The appointment of a seasoned finance professional like Joe Billante is a testament to the Company's proactive approach to managing its financial resources and capitalizing on emerging opportunities.

As Credit Acceptance embarks on this new chapter, the market is likely to watch with interest how the Company leverages Billante's expertise to drive its strategic objectives. With a strong foundation in place, Credit Acceptance is poised to continue its trajectory of growth, driven by its commitment to delivering innovative financial solutions to the automotive retail industry. The succession at the CFO position is expected to ensure continuity and stability, enabling the Company to stay focused on its long-term goals.

In conclusion, Credit Acceptance's appointment of Joe Billante as CFO is a significant development that marks a new era for the Company. With his extensive experience and expertise, Billante is well-equipped to lead the Company's financial strategy, navigating the complexities of the subprime auto lending market and driving continued success. As the Company looks to the future, its strong leadership and robust business model position it for sustained growth and profitability.