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Violation Tracker Individual Record

Company: American Savings Discount Club
Penalty: $3,000,000
Year: 2002
Date: August 1, 2002
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: American Savings Discount Club and two individual defendants agreed to establish a redress fund of nearly $3 million and a lifetime ban on credit-related telemarketing to settle a complaint that the Federal Trade Commission filed jointly with the Attorney General's Offices of Virginia, Wisconsin, and North Carolina. The complaint alleged that the company pitched a fraudulent advance-fee loan promotion to hundreds of thousands of consumers nationwide.
Level of Government: federal
Action Type: agency action
Agency: Federal Trade Commission
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.