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Violation Tracker Individual Record

Company: CompuCredit Corporation
Current Parent Company: Atlanticus Holdings
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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Penalty: $116,400,000
Year: 2008
Date: December 19, 2008
Offense Group: financial offenses
Primary Offense: banking violation
Mega-Scandal: Predatory Lending
Violation Description: A settlement of allegations that CompuCredit deceptively marketed subprime credit cards included restitution of approximately $114 million to consumers in the form of credits for certain fees arising from the deceptive marketing practices. The company also agreed to pay of civil penalty of $2.4 million.
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: Georgia
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: subprime credit 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.