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Violation Tracker Individual Record

Company: World's Foremost Bank
Current Parent Company: Bass Pro
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: $10,350,000
Year: 2011
Date: March 8, 2011
Offense Group: financial offenses
Primary Offense: banking violation
Secondary Offense: credit card violation
Violation Description: The Federal Deposit Insurance Corporation announced a settlement with World's Foremost Bank, Sidney, Nebraska, for alleged unfair and deceptive practices in violation of Section 5 of the Federal Trade Commission Act as well as violations of the Truth in Lending Act in connection with WFB's credit card programs. Under the settlement, WFB agreed to stipulate to a Consent Order, provide restitution of approximately $10.1 million to current and former cardholders; and pay a civil money penalty of $250,000.
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: Missouri
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: retailing
Specific Industry of Current Parent: retail-hunting & fishing
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.