Basic Search
|
Summaries
|
Advanced Search
Violation Tracker Summary for Mega-Scandal
Mega-Scandal: Bogus Bank Accounts
Description: This list shows cases in which banks paid penalties of $25 million or more to resolve allegations they created new fee-generating accounts for customers without authorization.
Penalty Total since 2000: $8,639,000,000
Number of Penalty Records: 10
Note: The totals here are adjusted to account for the fact that each current parent's entries 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. They 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 individual records list below.
| Top 10 Current Parent Companies | Total Penalty $ | Number of Records |
| Wells Fargo | $8,601,500,000 | 9 |
| U.S. Bancorp | $37,500,000 | 1 |
Individual Penalty Records:
Click on the company or penalty amount for more information on each case. Click on the current parent name to reach the summary page for that parent company.
| Company | Current Parent | Current Parent Industry  | Primary Offense Type | Year | Agency | Penalty Amount |
| Wells Fargo Bank | Wells Fargo | financial services | banking violation | 2016 | CFPB | $100,000,000 |
| Wells Fargo Bank | Wells Fargo | financial services | banking violation | 2016 | OCC | $35,000,000 |
| Wells Fargo Bank N.A. | Wells Fargo | financial services | banking violation | 2018 | OCC | $500,000,000 |
| Wells Fargo Bank N.A. | Wells Fargo | financial services | banking violation | 2018 | MULTI-AG | $575,000,000 |
| Wells Fargo | Wells Fargo | financial services | consumer protection violation | 2016 | CA-LACA | $50,000,000 |
| Wells Fargo & Company | Wells Fargo | financial services | fraud | 2020 | DOJ_CIVIL | $3,000,000,000 |
| Wells Fargo & Co. | Wells Fargo | financial services | investor protection violation | 2020 | SEC | (*)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 |
| U.S. Bank | U.S. Bancorp | financial services | banking violation | 2022 | CFPB | $37,500,000 |
| Wells Fargo Bank | Wells Fargo | financial services | consumer protection violation | 2022 | CFPB | $3,700,000,000 |
| Wells Fargo & Co. | Wells Fargo | financial services | consumer protection violation | 2018 | private lawsuit-federal | $142,000,000 |
