Violation Tracker Individual Record

Company: 
New Day Financial LLC dba New Day USA
Current Parent Company: 
New Day Financial LLC
Penalty: 
$1,000,000
Year: 
2015
Date: 
November 19, 2015
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
consumer protection violation
Violation Description: 

New Day Financial LLC dba New Day USA agreed to pay a $1 million penalty to the New York State Department of Financial Services and surrender its mortgage banker's license to do business in New York after its employees, including senior managers, were alleged to have engaged in a widespread scheme to cheat on state-required continuing education courses and exams, among other violations of New York Law.

Level of Government: 
state
Action Type: 
agency action
Agency: 
New York Department of Financial Services
Civil or Criminal Case: 
civil
Facility State: 
New York
HQ Country of Parent: 
USA
HQ State of Parent: 
Maryland
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
consumer lending
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.