Violation Tracker Individual Record

Company: 
Household Finance Corp.
Current Parent Company: 
HSBC
Penalty: 
$484,000,000
Year: 
2002
Date: 
October 10, 2002
Offense Group: 
financial offenses
Primary Offense: 
mortgage abuses
Violation Description: 

Household Finance agreed to pay $484 million to settle multistate litigation alleging that its mortgage business misrepresented terms to borrowers and failed to disclose important information to them.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Attorneys General Case
Civil or Criminal Case: 
civil
HQ Country of Parent: 
United Kingdom
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
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.