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Violation Tracker Individual Record

Company: Provident Funding Associates
Current Parent Company: Provident Funding Associates
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $9,000,000
Year: 2015
Date: May 28, 2015
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: discriminatory practices (non-employment)
Violation Description: The Consumer Financial Protection Bureau and the Department of Justice filed a joint complaint against Provident Funding Associates for charging higher broker fees on mortgage loans to African-American and Hispanic borrowers. The agencies also filed a proposed order that, if entered by the court, would require Provident to pay $9 million in damages to harmed African-American and Hispanic borrowers.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: mortgage lending
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.