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Violation Tracker Individual Record

Company: Comenity Bank and Comenity Capital Bank
Current Parent Company: Bread Financial Holdings
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $63,950,000
Year: 2015
Date: September 8, 2015
Offense Group: financial offenses
Primary Offense: banking violation
Secondary Offense: credit card violation
Mega-Scandal: Credit Card Issuer Abuses
Violation Description: The Federal Deposit Insurance Corporation announced a settlement with Comenity Bank, Wilmington, Delaware, and Comenity Capital Bank, Salt Lake City, Utah, for deceptive practices related to the marketing and servicing of credit card "add-on products," in violation of Section 5 of the Federal Trade Commission Act.
Level of Government: federal
Action Type: agency action
Agency: Federal Deposit Insurance Corporation
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Ohio
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: loyalty services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.