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Violation Tracker Individual Record

Company: Avant of Colorado, LLC et al.
Penalty: $1,550,000
Year: 2020
Date: August 18, 2020
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: Non-banks Avant and Marlette and banks WebBank and Cross River Banks, agreed to jointly pay $1,050,000 to the Colorado Attorney General's Office for costs, consumer education, antitrust enforcement and public welfare, plus $500,000 to a program for financial literacy education, in settlement of allegations the non-bank companies partnered with a bank to evade Colorado's interest rate limits on consumer loans.
Level of Government: state
Action Type: agency action
Agency: Colorado Attorney General
Civil or Criminal Case: civil
Facility State: Colorado
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.