Violation Tracker Individual Record

Company: 
Cole Taylor Bank
Current Parent Company: 
Fifth Third Bancorp
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 Parent: 
USA
HQ State of Parent: 
Ohio
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
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.