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Violation Tracker Individual Record

Company: World Acceptance Corporation
Current Parent Company: World Acceptance Corporation
Penalty: $21,700,000
Year: 2020
Date: August 6, 2020
Offense Group: competition-related offenses
Primary Offense: Foreign Corrupt Practices Act
Secondary Offense: financial institution supervision failures
Violation Description: The SEC found that from at least December 2010 through June 2017, World Acceptance Corporation's former Mexican subsidiary, WAC de Mexico S.A. de C.V., paid more than $4 million in bribes to Mexican government officials and union officials to secure the ability to make loans to government employees and ensure that those loans were repaid in a timely manner.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: South Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: consumer lending
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.