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Violation Tracker Current Parent Company Summary

Current Parent Company Name: Wells Fargo
Ownership Structure: publicly traded (ticker symbol WFC)
Headquartered in: California
Major Industry: financial services
Specific Industry: banking
Penalty total since 2000$22,081,446,244
Number of records: 228
Top 5 Offense Groups (Groups Defined)Penalty TotalNumber of Records
financial offenses$10,402,453,489121
consumer-protection-related offenses$6,421,664,48436
competition-related offenses$3,148,000,0003
government-contracting-related offenses$1,204,046,7862
employment-related offenses$904,745,48560
Top 5 Primary Offense TypesPenalty TotalNumber of Records
mortgage abuses$5,625,783,6717
banking violation$4,023,432,38617
toxic securities abuses$3,637,750,0007
fraud$3,000,000,0001
investor protection violation$2,487,362,73582
Notes: Parent-subsidiary linkages are based on relationships current as of the latest revision listed in the Update Log, which may vary from what was the case when a violation occurred. The penalty totals are adjusted to account for the fact that the individual entries below may include both agency records and settlement announcements for the same case; or else a penalty covering multiple locations may be listed in the individual records for each of the facilities. The totals are also adjusted to reflect cases in which federal and state or local agencies cooperated and issued separate announcements of the outcome. Duplicate or overlapping penalty amounts are marked with an asterisk in the list below.

Links: Subsidy Tracker data on financial assistance to this company by federal, state and local government agencies can be found here.

Individual Penalty Records:

Click on the company or penalty amount for more information on each case.

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CompanyPrimary Offense TypeYearAgency sort iconPenalty Amount
Prudential Securities Incorporatedinvestor protection violation2000SEC$5,880,000
Wells Fargo Advisors, LLCanti-money-laundering deficiencies2017SEC$3,500,000
Wells Fargo Bank N.A. Municipal Products Groupinvestor protection violation2016SEC$440,000
Wells Fargo Advisors LLCinvestor protection violation2018SEC$5,108,441
Strong Capital Management, Inc.investor protection violation2006SEC$2,185,927
Norwest Investment Services, Inc.investor protection violation2002SEC$153,245
Prudential Securities Incorporatedinvestor protection violation2001SEC$800,000
First Union Securities, Inc.investor protection violation2000SEC$408,931
Wells Fargo Securitiesinvestor protection violation2019SEC$812,500
Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLCinvestor protection violation2019SEC$17,363,847
Wells Fargo Clearing Services and Wells Fargo Advisors Financial Networkinvestor protection violation2020SEC$35,000,000
Wells Fargo & Co.investor protection violation2020SEC(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $500,000,000
Wells Fargo Advisorsanti-money-laundering deficiencies2022SEC$7,000,000
A.G. Edwards & Sons Inc.investor protection violation2008TX-SEC$5,000
Wachovia Bank N.A.anti-money-laundering deficiencies2010USAO$50,000,000
Wells Fargo BankFalse Claims Act and related2008USAO$4,046,786
Wells Fargo Bank, N.A.banking violation2021USAO$72,600,000
WELLS FARGO ADVISORSinvestor protection violation2015VA-SEC$205,000
Wells Fargo Advisors LLCinvestor protection violation2016VT-FIN$300,000
Wells Fargo Bank, N. A.Family and Medical Leave Act2016WHD$11,874
Wells Fargo Bank NAwage and hour violation2011WHD$31,770
Wells Fargo BankFamily and Medical Leave Act2006WHD$5,152
Wells Fargo Bank, National Associationwage and hour violation2004WHD$228,209
Wachovia Bankwage and hour violation2004WHD$5,798,744
Wells Fargo Bank N.A.wage and hour violation2019WHD$57,675
Wells Fargo Bankwage and hour violation2016WHD$38,230
Wells Fargo & Companywage and hour violation2014WHD$100,001
Wells Fargoconsumer protection violation2016WV-AG$8,000,000
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.