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Violation Tracker Individual Record

Company: Providian Financial Corp.
Current Parent Company: JPMorgan Chase
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Penalty: $105,000,000
Year: 2000
Date: December 28, 2000
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: banking violation
Mega-Scandal: Credit Card Issuer Abuses
Violation Description: Providian agreed to pay $105 million to settle litigation brought in state court in California and federal court in Pennsylvania alleging it violated consumer protection laws in the marketing of credit card add-on products.
Level of Government: federal
Action Type: private litigation
Court: San Francisco County (CA) Superior Court
Civil or Criminal Case: civil
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
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.