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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: $25,781,458,643
Number of records: 230
| Top 5 Offense Groups (Groups Defined) | Penalty Total | Number of Records |
| financial offenses | $10,402,453,489 | 121 |
| consumer-protection-related offenses | $10,121,664,484 | 37 |
| competition-related offenses | $3,148,000,000 | 3 |
| government-contracting-related offenses | $1,204,046,786 | 2 |
| employment-related offenses | $904,757,884 | 61 |
| Top 5 Primary Offense Types | Penalty Total | Number of Records |
| mortgage abuses | $5,625,783,671 | 7 |
| consumer protection violation | $4,369,338,975 | 18 |
| banking violation | $4,023,432,386 | 17 |
| toxic securities abuses | $3,637,750,000 | 7 |
| fraud | $3,000,000,000 | 1 |
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.
| Company | Primary Offense Type | Year  . | Agency | Penalty Amount |
| Wells Fargo Bank, National Association | wage and hour violation | 2004 | WHD | $228,209 |
| Wachovia Bank | wage and hour violation | 2004 | WHD | $5,798,744 |
| Strong Capital Management Co. | investor protection violation | 2004 | MULTI-AG | (*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $115,000,000 |
| Wells Fargo | consumer protection violation | 2004 | NY-AG | $2,900,000 |
| Ragen Mackenzie Investment Services LLC | investor protection violation | 2004 | OR-FIN | $8,500 |
| WFS Financial, Inc. | discriminatory practices (non-employment) | 2004 | private lawsuit-federal | $4,550,000 |
| Wachovia Securities LLC | investor protection violation | 2004 | FINRA | $650,000 |
| Wells Fargo Investments, LLC | investor protection violation | 2004 | FINRA | $150,000 |
| Wachovia Securities, LLC. | investor protection violation | 2004 | FINRA | $39,486 |
| WELLS FARGO SECURITIES, LLC. | workplace safety or health violation | 2004 | OSHA | $5,000 |
| A.G. Edwards & Sons, Inc. | data submission deficiencies | 2003 | CFTC | $45,000 |
| Wells Fargo Bank | economic sanction violation | 2003 | OFAC | $5,500 |
| Prudential Securities, Inc. | investor protection violation | 2003 | SEC | $382,000 |
| Wells Fargo Financial Bank | consumer protection violation | 2003 | NY-AG | $33,500 |
| Wells Fargo Home Mortgage, Inc. | consumer protection violation | 2003 | CA-SCCDA | $25,000 |
| Wells Fargo Financial Texas, Inc. | employment discrimination | 2003 | EEOC | $110,000 |
| A.G. Edwards & Sons Inc. | investor protection violation | 2003 | NE-DBF | $20,000 |
| Prudential Securities, Inc. | data submission deficiencies | 2002 | CFTC | $65,000 |
| Norwest Investment Services, Inc. | investor protection violation | 2002 | SEC | $153,245 |
| Prudential Securities Incorporated | investor protection violation | 2001 | SEC | $800,000 |
| Prudential Securities Incorporated | investor protection violation | 2001 | FINRA | $20,000 |
| Prudential Securities, Inc. | investor protection violation | 2001 | FINRA | $10,000 |
| First Union Brokerage Services, Inc. | investor protection violation | 2001 | FINRA | $32,500 |
| Prudential Securities Incorporated | investor protection violation | 2000 | SEC | $5,880,000 |
| First Union Bank | labor relations violation | 2000 | NLRB | $9,116 |
| Wachovia National Bank, N.A. | benefit plan administrator violation | 2000 | EBSA | $30,000,000 |
| First Union Securities, Inc. | investor protection violation | 2000 | SEC | $408,931 |
| First Union Securities, Inc. | investor protection violation | 2000 | FINRA | $350,000 |
| A.G. Edwards & Sons, Inc. | investor protection violation | 2000 | FINRA | $5,890,000 |
| Prudential Securities, Inc. | investor protection violation | 2000 | FINRA | $100,000 |
