In November 2003, Fairbanks Capital Corp. and Fairbanks Capital Holding Corp. agreed to pay $40 million to settle with the FTC and the U.S. Department of Housing and Urban Development (HUD), which charged them with engaging in a number of unfair, deceptive, and illegal practices in the servicing of subprime mortgage loans.
In November 2003, Fairbanks Capital Corp. and Fairbanks Capital Holding Corp. agreed to pay $40 million to settle with the Federal Trade Commission (FTC) and the U.S. Department of Housing and Urban Development (HUD), which accused them of engaging in a number of unfair, deceptive, and illegal practices in the servicing of subprime mortgage loans.