Violation Tracker Individual Record

Company: 
World's Foremost Bank
Current Parent Company: 
Bass Pro
Penalty: 
$10,350,000
Year: 
2011
Date: 
March 8, 2011
Offense Group: 
financial offenses
Primary Offense: 
banking violation
Secondary Offense: 
credit card violation
Violation Description: 

The Federal Deposit Insurance Corporation announced a settlement with World's Foremost Bank, Sidney, Nebraska, for alleged unfair and deceptive practices in violation of Section 5 of the Federal Trade Commission Act as well as violations of the Truth in Lending Act in connection with WFB's credit card programs. Under the settlement, WFB agreed to stipulate to a Consent Order, provide restitution of approximately $10.1 million to current and former cardholders; and pay a civil money penalty of $250,000.

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: 
Missouri
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
retailing
Specific Industry of Parent: 
retail-hunting & fishing
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.