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Donald Foss, who founded one of the nation's largest subprime auto lenders, died Sunday, Aug. 14, of complications of cancer, according to a news release.
Foss founded Southfield-based Credit Acceptance Corp. (NASDAQ: CACC) in 1972 having started a car dealership in Detroit five years earlier, according to a news release from the company announcing his death.
The business model spurred on by Foss — who was 78 years old and worth at around...