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 Parent: 
USA
HQ State of Parent: 
South Carolina
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
consumer 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.