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Violation Tracker Summary for Mega-Scandal

Mega-Scandal: Toxic Securities
Description: This list shows cases in which companies paid penalties of $25 million or more in cases related to the packaging and marketing of the toxic securities whose collapse precipitated the 2008-2009 financial crisis.
Penalty Total since 2000: $148,423,862,498
Number of Penalty Records: 140
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
Bank of America$24,364,633,33314
UBS$21,318,433,33316
JPMorgan Chase$18,523,500,00012
Citigroup$16,081,333,33310
Deutsche Bank$13,058,133,3339
Goldman Sachs$12,580,279,16610
NatWest Group PLC$11,995,800,00013
Morgan Stanley$8,844,950,00011
Allianz$5,763,000,0001
Wells Fargo$5,230,000,0009

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 TypeYearAgency sort iconPenalty Amount
Lehman Brothers, Inc. investor protection violation2014WA-AG$31,300,000
Fifth Third BancorpFifth Third Bancorpfinancial servicestoxic securities abuses2015USAO$85,000,000
Deutsche Bank AGDeutsche Bankfinancial servicestoxic securities abuses2012USAO$202,300,000
RBS Securities Inc.NatWest Group PLCfinancial servicestoxic securities abuses2017USAO$44,000,000
Societe Generale S.A.Societe Generalefinancial servicestoxic securities abuses2017USAO$50,000,000
Ally Financial Inc.Ally Financialfinancial servicestoxic securities abuses2016USAO$52,000,000
Ambac Financial Group et al.Ambac Financialfinancial servicestoxic securities abuses2013USAO$101,900,000
Barclays Capital, Inc.Barclaysfinancial servicestoxic securities abuses2018USAO$2,000,000,000
Aurora Loan Services, LLC toxic securities abuses2018USAO$41,000,000
HSBCHSBCfinancial servicestoxic securities abuses2018USAO$765,000,000
Allianz Global Investors U.S. LLCAllianzfinancial servicesinvestor protection violation2022USAO$5,763,000,000
Nomura Securities InternationalNomurafinancial servicesfraud2023USAO$35,000,000
Citigroup Global Markets Inc. and Citigroup Alternative Investments LLCCitigroupfinancial servicesinvestor protection violation2015SEC$180,000,000
Deutsche Bank AGDeutsche Bankfinancial servicesinvestor protection violation2015SEC$55,000,000
Standard & Poor's Ratings ServicesS&P Globalinformation technologytoxic securities abuses2015SEC$58,000,000
Morgan StanleyMorgan Stanleyfinancial servicestoxic securities abuses2014SEC$275,000,000
Jefferies LLCJefferies Financial Groupdiversifiedinvestor protection violation2014SEC$25,000,000
Merrill LynchBank of Americafinancial servicestoxic securities abuses2013SEC$131,800,000
RBS Securities Inc.NatWest Group PLCfinancial servicestoxic securities abuses2013SEC$153,700,000
UBS SecuritiesUBSfinancial servicestoxic securities abuses2013SEC$50,000,000
J.P. Morgan Securities LLCJPMorgan Chasefinancial servicestoxic securities abuses2012SEC$296,900,000
Credit Suisse Securities (USA)UBSfinancial servicestoxic securities abuses2012SEC$120,000,000
Mizuho Financial GroupMizuho Financialfinancial servicesinvestor protection violation2012SEC$127,500,000
Option One Mortgage CorporationOcwen Financialfinancial servicestoxic securities abuses2012SEC$28,200,000
CitigroupCitigroupfinancial servicestoxic securities abuses2011SEC$285,000,000
Morgan Keegan & CompanyRaymond James Financialfinancial servicestoxic securities abuses2011SEC$200,000,000
J.P. Morgan Securities LLCJPMorgan Chasefinancial servicestoxic securities abuses2011SEC$153,600,000
Citigroup Inc.Citigroupfinancial servicestoxic securities abuses2010SEC$75,000,000
Goldman Sachs & Co.Goldman Sachsfinancial servicestoxic securities abuses2010SEC$550,000,000
State Street Bank and Trust CompanyState Street Corp.financial servicesinvestor protection violation2010SEC$313,300,000
Evergreen Investment Management Company LLCWells Fargofinancial servicesinvestor protection violation2009SEC$40,000,000
Merrill LynchBank of Americafinancial servicesinvestor protection violation2009OH-AG$475,000,000
Morgan StanleyMorgan Stanleyfinancial servicestoxic securities abuses2016NY-AG$550,000,000
Royal Bank of ScotlandNatWest Group PLCfinancial servicestoxic securities abuses2018NY-AG$500,000,000
UBS Securities LLCUBSfinancial servicestoxic securities abuses2018NY-AG$230,000,000
RBS Financial ProductsNatWest Group PLCfinancial servicestoxic securities abuses2012NV-AG$42,000,000
Credit Suisse Securities (USA) LLC et al.UBSfinancial servicesinvestor protection violation2022NJ-AG$495,000,000
UBSUBSfinancial servicestoxic securities abuses2016NCUA$69,800,000
Credit SuisseUBSfinancial servicestoxic securities abuses2016NCUA$50,300,000
Morgan StanleyMorgan Stanleyfinancial servicestoxic securities abuses2015NCUA$225,000,000
Barclays Capital Inc.Barclaysfinancial servicestoxic securities abuses2015NCUA$325,000,000
Royal Bank of Scotland plcNatWest Group PLCfinancial servicestoxic securities abuses2015NCUA$129,600,000
Bank of AmericaBank of Americafinancial servicestoxic securities abuses2013NCUA$165,000,000
Deutsche Bank SecuritiesDeutsche Bankfinancial servicestoxic securities abuses2011NCUA$145,000,000
UBSUBSfinancial servicestoxic securities abuses2017NCUA$445,000,000
Bank of AmericaBank of Americafinancial servicesinvestor protection violation2008MULTI-FIN(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $50,000,000
Citigroup Global Markets Inc.Citigroupfinancial servicesinvestor protection violation2010MULTI-FIN(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $100,000,000
JPMorgan Chase & Co.JPMorgan Chasefinancial servicesinvestor protection violation2008MULTI-FIN(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $25,000,000
Merrill LynchBank of Americafinancial servicesinvestor protection violation2008MULTI-FIN(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $125,000,000
Morgan Keegan & CompanyRaymond James Financialfinancial servicestoxic securities abuses2013MULTI-FIN(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $100,000,000
Morgan StanleyMorgan Stanleyfinancial servicesinvestor protection violation2008MULTI-FIN(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $35,000,000
UBS Securities LLC and UBS Financial Services Inc.UBSfinancial servicesinvestor protection violation2008MULTI-FIN(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $150,000,000
Wachovia Securities LLCWells Fargofinancial servicesinvestor protection violation2008MULTI-FIN(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $50,000,000
Banc of America Securities LLCBank of Americafinancial servicesinvestor protection violation2008MULTI-AG$4,550,000,000
Bank of AmericaBank of Americafinancial servicesinvestor protection violation2012MULTI-AG$2,430,000,000
Bank of AmericaBank of Americafinancial servicesinvestor protection violation2013MULTI-AG$500,000,000
Citigroup Global Markets, Inc. and Citi Smith BarneyCitigroupfinancial servicesinvestor protection violation2008MULTI-AG$7,100,000,000
Citigroup Inc.Citigroupfinancial servicestoxic securities abuses2014MULTI-AG(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $291,750,000
Deutsche Bank Securities, Inc. and Deutsche Bank AGDeutsche Bankfinancial servicesinvestor protection violation2008MULTI-AG$3,348,333,333
Goldman SachsGoldman Sachsfinancial servicestoxic securities abuses2016MULTI-AG(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $225,000,000
Goldman Sachs Group, Inc.Goldman Sachsfinancial servicesinvestor protection violation2008MULTI-AG$3,355,833,333
JP Morgan Chase & Co.JPMorgan Chasefinancial servicesinvestor protection violation2008MULTI-AG$3,525,000,000
JPMorgan ChaseJPMorgan Chasefinancial servicestoxic securities abuses2013MULTI-AG(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $1,066,000,000
Merrill Lynch & Co.Bank of Americafinancial servicesinvestor protection violation2008MULTI-AG$3,458,333,333
Moody's CorporationMoody'sinformation technologytoxic securities abuses2017MULTI-AG(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $426,500,000
Morgan StanleyMorgan Stanleyfinancial servicesinvestor protection violation2008MULTI-AG$3,535,000,000
Oppenheimer & Co. Inc.Oppenheimer Holdingsfinancial servicesinvestor protection violation2010MULTI-AG$31,000,000
RBC Capital Markets CorporationRoyal Bank of Canadafinancial servicesinvestor protection violation2008MULTI-AG$859,800,000
Standard & Poor's Financial Services LLCS&P Globalinformation technologytoxic securities abuses2015MULTI-AG(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $687,500,000
TD Ameritrade, Inc.Charles Schwab Corp.financial servicesinvestor protection violation2009MULTI-AG$456,000,000
UBS Securities LLC and UBS Financial Services, Inc.UBSfinancial servicesinvestor protection violation2008MULTI-AG$11,150,000,000
Wachovia SecuritiesWells Fargofinancial servicesinvestor protection violation2008MULTI-AG$60,000,000
Bear StearnsJPMorgan Chasefinancial servicesinvestor protection violation2012MI-AG$275,000,000
Deutsche BankDeutsche Bankfinancial servicestoxic securities abuses2017MD-AG$95,000,000
Barclays Bank PLCBarclaysfinancial servicestoxic securities abuses2013MA-AG$36,100,000
Goldman Sachs & Co.Goldman Sachsfinancial servicesmortgage abuses2009MA-AG$60,000,000
Morgan Stanley & Co.Morgan Stanleyfinancial servicestoxic securities abuses2010MA-AG$102,000,000
RBS Financial Products Inc.NatWest Group PLCfinancial servicestoxic securities abuses2011MA-AG$52,000,000
UBS Financial Services, Inc. and UBS Securities LLCUBSfinancial servicestoxic securities abuses2008MA-AG$35,000,000
Credit Acceptance CorporationCredit Acceptance Corp.financial servicesconsumer protection violation2021MA-AG$27,200,000
HSBC North America Holdings Inc.HSBCfinancial servicestoxic securities abuses2014FHFA$550,000,000
Goldman Sachs & Co.Goldman Sachsfinancial servicestoxic securities abuses2014FHFA$3,150,000,000
RBS Securities Inc.NatWest Group PLCfinancial servicestoxic securities abuses2014FHFA$99,500,000
First Horizon National CorporationFirst Horizon Nationalfinancial servicestoxic securities abuses2014FHFA$110,000,000
Barclays Bank PLCBarclaysfinancial servicestoxic securities abuses2014FHFA$280,000,000
Bank of America CorporationBank of Americafinancial servicestoxic securities abuses2014FHFA$9,300,000,000
Credit SuisseUBSfinancial servicestoxic securities abuses2014FHFA$885,000,000
Societe GeneraleSociete Generalefinancial servicestoxic securities abuses2014FHFA$122,000,000
Morgan StanleyMorgan Stanleyfinancial servicestoxic securities abuses2014FHFA$1,250,000,000
Deutsche Bank AGDeutsche Bankfinancial servicestoxic securities abuses2013FHFA$1,925,000,000
UBS Americas Inc.UBSfinancial servicestoxic securities abuses2013FHFA$885,000,000
Wells FargoWells Fargofinancial servicestoxic securities abuses2013FHFA$591,000,000
Wells Fargo Bank, National AssociationWells Fargofinancial servicestoxic securities abuses2013FHFA$869,000,000
Citimortgage Inc. and Citibank N.A.Citigroupfinancial servicestoxic securities abuses2013FHFA$395,000,000
SunTrust Mortgage, Inc.Truist Financialfinancial servicestoxic securities abuses2013FHFA$65,000,000
Bank of AmericaBank of Americafinancial servicestoxic securities abuses2011FHFA$1,300,000,000
Bank of AmericaBank of Americafinancial servicestoxic securities abuses2011FHFA$1,520,000,000
CitigroupCitigroupfinancial servicestoxic securities abuses2013FHFA$968,000,000
Royal Bank of Scotland PLCNatWest Group PLCfinancial servicestoxic securities abuses2017FHFA$5,500,000,000
Morgan Stanley & Co. LLCMorgan Stanleyfinancial servicestoxic securities abuses2016FDIC$62,950,000
Branch Banking & Trust Company (BB&T)Truist Financialfinancial servicesFalse Claims Act and related2016DOJ_CIVIL$83,000,000
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.