Violation Tracker Individual Record

Company: 
General Electric Capital Corporation
Current Parent Company: 
General Electric
Penalty: 
$2,890,000
Year: 
2005
Date: 
May 17, 2005
Primary Offense: 
consumer protection violation
Violation Description: 

GE Capital agreed to write off $2.9 million in debt for small businesses in order to settle a multistate lawsuit brought to help victims of the fraudulent bankrupt telecommunications company NorVegence Inc.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Attorneys General Case
Civil or Criminal Case: 
civil
Private Lawsuit Resolution Type: 
settlement
HQ Country of Parent: 
USA
HQ State of Parent: 
Massachusetts
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
diversified
Specific Industry of Parent: 
diversified
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.