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Violation Tracker Individual Record

Company: WEX Bank and Higher One, Inc.
Current Parent Company: WEX Inc.
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $34,980,000
Year: 2015
Date: December 23, 2015
Offense Group: financial offenses
Primary Offense: banking violation
Violation Description: The Federal Deposit Insurance Corporation announced settlements with WEX Bank, Midvale, Utah, and Higher One, Inc., New Haven, Conn., an institution-affiliated party of WEX Bank, for deceptive practices in violation of Section 5 of the Federal Trade Commission (FTC) Act.
Level of Government: federal
Action Type: agency action
Agency: Federal Deposit Insurance Corporation
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Maine
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: payment processing
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.