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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 CompaniesTotal Penalty $Number of Records
Wells Fargo$8,601,500,0009
U.S. Bancorp$37,500,0001

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.

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CompanyCurrent ParentCurrent Parent IndustryPrimary Offense TypeYearAgencyPenalty Amount sort icon
Wells Fargo BankWells Fargofinancial servicesbanking violation2016OCC$35,000,000
U.S. BankU.S. Bancorpfinancial servicesbanking violation2022CFPB$37,500,000
Wells FargoWells Fargofinancial servicesconsumer protection violation2016CA-LACA$50,000,000
Wells Fargo BankWells Fargofinancial servicesbanking violation2016CFPB$100,000,000
Wells Fargo & Co.Wells Fargofinancial servicesconsumer protection violation2018private lawsuit-federal$142,000,000
Wells Fargo Bank N.A.Wells Fargofinancial servicesbanking violation2018OCC$500,000,000
Wells Fargo & Co.Wells Fargofinancial servicesinvestor 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 Bank N.A.Wells Fargofinancial servicesbanking violation2018MULTI-AG$575,000,000
Wells Fargo & CompanyWells Fargofinancial servicesfraud2020DOJ_CIVIL$3,000,000,000
Wells Fargo BankWells Fargofinancial servicesconsumer protection violation2022CFPB$3,700,000,000
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.