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Violation Tracker Individual Record

Company: Condor Capital Corporation
Penalty: $11,000,000
Year: 2014
Date: December 19, 2014
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: The Department of Financial Services announced a Final Consent Judgment to settle its lawsuit against Condor Capital Corporation, a subprime auto lender based in Long Island, which had been accused of retaining millions of dollars owed to vulnerable borrowers and overcharging them for interest in violation of the Truth in Lending Act. Condor agreed to make full restitution plus nine percent interest to all aggrieved customers nationwide (an estimated $8-9 million), pay a $3 million penalty, and admit to violations of New York and federal law. Following a sale of its remaining loans in a manner that ensures appropriate consumer protections, Condor was to surrender its licenses in all states.
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
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.