Violation Tracker Individual Record

Company: 
Provident Funding Associates
Current Parent Company: 
Provident Funding Associates
Penalty: 
$9,000,000
Year: 
2015
Date: 
May 28, 2015
Primary Offense: 
consumer protection violation
Secondary Offense: 
discriminatory practices
Violation Description: 

The Consumer Financial Protection Bureau and the Department of Justice filed a joint complaint against Provident Funding Associates for charging higher broker fees on mortgage loans to African-American and Hispanic borrowers. The agencies also filed a proposed order that, if entered by the court, would require Provident to pay $9 million in damages to harmed African-American and Hispanic borrowers.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Consumer Financial Protection Bureau
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
California
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
mortgage lending
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.