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Violation Tracker Individual Record

Company: TitleMax of California, Inc.
Current Parent Company: TMX Finance
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $720,140
Year: 2019
Date: December 16, 2019
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: Titlemax agreed to pay $720,140 in refunds and penalties in settlement of allegations it violated state lending regulations by: material misrepresentations and/or omissions by telling borrowers that state law did not allow the company to lend less that $2,600, making false reports to the Commissioner, overcharging interest rates and administration fees, and charging prohibited DMV handling fees.
Level of Government: state
Action Type: agency action
Agency: California Department of Financial Protection and Innovation
Civil or Criminal Case: civil
Facility State: California
HQ Country of Current Parent: USA
HQ State of Current Parent: Georgia
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: title lending
Source of Data: (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.