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Violation Tracker Individual Record

Company: American Express Centurion Bank
Current Parent Company: American Express
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $3,900,000
Year: 2012
Date: October 1, 2012
Offense Group: financial offenses
Primary Offense: banking violation
Secondary Offense: credit card violation
Violation Description: The Federal Deposit Insurance Corporation and the Consumer Financial Protection Bureau reached a settlement with American Express Centurion Bank (Bank), Salt Lake City, Utah, for deceptive debt collection and credit card marketing practices, in violation of section 5 of the Federal Trade Commission Act. As part of the settlement, the bank was required to pay a penalty of $3.9 million to the FDIC.
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: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial 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.