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Violation Tracker Individual Record

Company: Wells Fargo Bank
Current Parent Company: Wells Fargo
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $234,300,000
Year: 2012
Date: July 12, 2012
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Secondary Offense: discriminatory practices (non-employment)
Mega-Scandal: Discriminatory Lending Practices
Violation Description: The Department of Justice announced a settlement with Wells Fargo Bank resolving allegations that it engaged in a pattern or practice of discrimination against qualified African-American and Hispanic borrowers in its mortgage lending from 2004 through 2009.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Civil Rights Division
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
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.