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Violation Tracker Individual Record

Company: Cole Taylor Bank
Current Parent CompanyFifth Third Bancorp
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Penalty: $3,510,000
Year: 2014
Date: June 26, 2014
Offense Group: financial offenses
Primary Offense: banking violation
Violation Description: The Federal Reserve Board issued a consent order to cease and desist and a civil money penalty assessment of $3,510,000 against Cole Taylor Bank of Chicago, Illinois. The order addressed the participation by the bank and its agent, Higher One, Inc. of New Haven, Connecticut, in what were said to be deceptive practices in violation of section 5 of the Federal Trade Commission Act.
Level of Government: federal
Action Type: agency action
Agency: Federal Reserve
Civil or Criminal Case: civil
Facility State: Illinois
Facility City: Chicago
HQ Country of Current Parent: USA
HQ State of Current Parent: Ohio
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.