Violation Tracker Individual Record

Company: 
WEX Bank and Higher One, Inc.
Current Parent Company: 
WEX Inc.
Penalty: 
$34,980,000
Year: 
2015
Date: 
December 23, 2015
Offense Group: 
financial offenses
Primary Offense: 
banking violation
Violation Description: 

The Federal Deposit Insurance Corporation announced settlements with WEX Bank, Midvale, Utah, and Higher One, Inc., New Haven, Conn., an institution-affiliated party of WEX Bank, for deceptive practices in violation of Section 5 of the Federal Trade Commission (FTC) Act.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Federal Deposit Insurance Corporation
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
Maine
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
payment processing
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.