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Violation Tracker Individual Record

Company: MBNA Corp.
Current Parent Company: Bank of America
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $8,700,000
Year: 2001
Date: August 1, 2001
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: banking violation
Violation Description: MBNA agreed to pay over $8 million to settle litigation alleging its cash promotional annual percentage rate program was fraudulent and deceptive.
Level of Government: federal
Action Type: private litigation
Court: District of Delaware
Civil or Criminal Case: civil
Case ID: 1:96cv497
Case Name: Spark v. MBNA Corp, et al
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Link to PACER Case Docket (must be logged in): (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.