G. Kennedy Thompson of court a case in which it allegedly laundered over $378 billion in cash and traveler's checks from Mexican drug cartels in the years 2004 - 2006, during Thompson's tenure as CEO. Terms of the settlement included a $110 million forfeiture and a $50 million fine. Thompson was pushed out of Wachovia Bank (WB) on June 2, 2008, as head of the nation’s fourth-largest bank, becoming the latest financial services executive to be ousted amid turmoil in the U.S. housing market. Thompson will not receive any incentive pay for the 2008 fiscal year, but according to a filing with the
Credit One Bank Credit One Bank Credit One Bank, N.A., simply referred to as Credit One Bank, is a U.S.-based bank specializing in credit cards. It has corporate offices in Las Vegas, Nevada. The bank is held by Credit One Financial, a bank holding company registered in Nevada. Credit One Financial is a wholly owned subsidiary of Sherman Financial Group, LLC. As of 2017, Credit One Bank services more than 7 million cardholders across the United States. Credit One Bank operates under a CEBA national bank charter (OCC Charter Number: 20291). This type of charter affects the bank’s lending and deposit functions. Requirements