Violation Tracker Individual Record

Company: 
GMAC Bank
Current Parent Company: 
Ally Financial
Penalty: 
$200,000
Year: 
2008
Date: 
September 9, 2008
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
consumer protection violation
Violation Description: 

Seven student loan companies agreed to reform their business practices and contribute a total of $1.4 million to a fund to assist students and their families. The announcement did not specify how much each company would pay. Here we assume the total was split evenly among them.

Level of Government: 
state
Action Type: 
agency action
Agency: 
New York Attorney General
Civil or Criminal Case: 
civil
Facility State: 
New York
HQ Country of Parent: 
USA
HQ State of Parent: 
Michigan
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
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.