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Violation Tracker Individual Record

Company: CIT Technology Financing Services, Inc.
Current Parent Company: First Citizens BancShares
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: $4,200,000
Year: 2004
Date: December 23, 2004
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: The New York Attorney General announced settlements with five financial institutions in connection with a widespread telecommunications fraud involving NorVergence, Inc., a bankrupt New Jersey-based telephone equipment and service company.
Level of Government: state
Action Type: agency action
Agency: New York Attorney General
Civil or Criminal Case: civil
Facility State: New York
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
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.