Bank
TAB BankAbout
Important information
- Government Actions:Read moreGovernment Action: BBB reports on known government actions involving business’ marketplace conduct:Transportation Alliance Bank, Inc. ) ASSURANCE OF DISCONTINUANCE
BBB reports on known government actions involving business’ marketplace conduct. On 12/13/2022 the business entered into an Assurance of Discontinuance with the State of Iowa. The Assurance settles allegations that the Bank has failed to comply with certain provisions of the ICCC. Between March 1, 2020 and April 8, 2022, the Bank made 1611 consumer installment loans to Iowa residents with assistance from its service provider EasyPay (“Iowa Loans”). The State alleges that the Bank imposed finance charges on the Iowa Loans that exceeded the permitted maximum finance charge of 21% APR, in violation of Iowa Code § 537.2401 and in connection with Section 521 of DIDMCA. Under terms of the Assurance, the business agreed to cease making Iowa Loans as of April 8, 2022. 2 4. The Bank states it does not intend to resume making consumer installment loans to Iowa residents. If the Bank does intend to resume making consumer installment loans to Iowa residents, it will do so only after giving the State and the IDOB not less than 30 days advance written notice, and in compliance with the Iowa Consumer Credit Code, Iowa Code Chapter 537, as applicable. 5. Pursuant to the Restitution Plan agreed upon with the State and the IDOB , the Bank will provide restitution to Iowa residents in connection with the Iowa Loans. 6. Within ninety days of the Effective Date of this Assurance, the Bank shall provide to the State a summary of its compliance with the Restitution Plan, as further described in Section F of the Restitution Plan. The Assurance was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law. For more details go to Transportation Alliance Bank, Inc - ASSURANCE OF DISCONTINUANCE.
Business Details
- Local BBB:
- BBB Mountain West
- BBB File Opened:
- 9/23/1999
- Business Started:
- 11/13/1997
- Business Started Locally:
- 11/13/1997
- Business Incorporated:
- 11/13/1997
- Type of Entity:
- Corporation
- Alternate Names:
- Transportation Alliance Bank Inc.
- TAB Financial Services Inc.
- Alliance Funding Solutions
- Business Management:
- Mr. Boyd Hunter, Treasurer
- Mr. Michael Palmer, Customer Contact
- Mr. Trevor Morris, Marketing Manager
Additional Contact Information
- Principal Contacts
- Mr. Trevor Morris, Marketing Manager
- Additional Phone Numbers
- Other Phone: (800) 355-3063
Licensing information
This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
Additional Information
- Business Categories
- Bank, Banking Services
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