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Company: CompuCredit Corporation
Current Parent Company:
Atlanticus Holdings
Parent at the Time of the Penalty Announcement:
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Recap of Ownership Changes:
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Penalty: $114,000,000
Year: 2008
Date: December 19, 2008
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Mega-Scandal:
Predatory Lending
Violation Description: CompuCredit Corporation, a company marketing Visa and MasterCard credit cards to consumers in the subprime credit market, agreed to reverse $114 million in fees charged to eligible consumers' accounts to settle allegations that it violated federal law by using deceptive marketing techniques.
Level of Government: federal
Action Type: agency action
Agency: Federal Trade Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Georgia
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: subprime credit services
Source of Data:
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Archived Source:
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
Update Log.
