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Violation Tracker Individual Record

Company: Higher One, Incorporated
Current Parent Company: Providence Equity Partners
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $2,231,250
Year: 2015
Date: December 23, 2015
Offense Group: financial offenses
Primary Offense: banking violation
Secondary Offense: student loan abuses
Violation Description: The Federal Reserve Board assessed a civil money penalty and issued a consent order to cease and desist against Higher One, Inc. The order addressed what were said to be deceptive practices by Higher One that misled students who obtained financial aid disbursements from institutions of higher education through Higher One.
Level of Government: federal
Action Type: agency action
Agency: Federal Reserve
Civil or Criminal Case: civil
Facility State: Connecticut
Facility City: New Haven
HQ Country of Current Parent: USA
HQ State of Current Parent: Rhode Island
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: private equity (including portfolio companies)
Specific Industry of Current Parent: private equity (including portfolio companies)
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.