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Violation Tracker Individual Record

Company: Fairbanks Capital Holding Corp.
Penalty: $40,000,000
Year: 2003
Date: November 12, 2003
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Secondary Offense: consumer protection violation
Mega-Scandal: Mortgage Abuses
Violation Description: Fairbanks Capital Holding Corp. and its wholly-owned subsidiary Fairbanks Capital Corp. agreed to pay $40 million in redress to consumers to settle allegations that they engaged in a variety of unfair, deceptive, and illegal practices in the servicing of subprime mortgage loans.
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.