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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 Companies | Total Penalty $ | Number of Records |
| Bank of America | $24,364,633,333 | 14 |
| UBS | $21,318,433,333 | 16 |
| JPMorgan Chase | $18,523,500,000 | 12 |
| Citigroup | $16,081,333,333 | 10 |
| Deutsche Bank | $13,058,133,333 | 9 |
| Goldman Sachs | $12,580,279,166 | 10 |
| NatWest Group PLC | $11,995,800,000 | 13 |
| Morgan Stanley | $8,844,950,000 | 11 |
| Allianz | $5,763,000,000 | 1 |
| Wells Fargo | $5,230,000,000 | 9 |
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 |
| Branch Banking & Trust Company (BB&T) | Truist Financial | financial services | False Claims Act and related | 2016 | DOJ_CIVIL | $83,000,000 |
| Deutsche Bank | Deutsche Bank | financial services | toxic securities abuses | 2017 | DOJ_CIVIL | $7,200,000,000 |
| Moody's Corporation | Moody's | information technology | toxic securities abuses | 2017 | DOJ_CIVIL | $864,000,000 |
| Credit Suisse | UBS | financial services | toxic securities abuses | 2017 | DOJ_CIVIL | $5,280,000,000 |
| Royal Bank of Scotland Group plc | NatWest Group PLC | financial services | toxic securities abuses | 2018 | DOJ_CIVIL | $4,900,000,000 |
| Wells Fargo Bank, N.A. | Wells Fargo | financial services | toxic securities abuses | 2018 | DOJ_CIVIL | $2,090,000,000 |
| General Electric | General Electric | diversified | toxic securities abuses | 2019 | DOJ_CIVIL | $1,500,000,000 |
| UBS AG | UBS | financial services | toxic securities abuses | 2023 | DOJ_CIVIL | $1,435,000,000 |
| Goldman Sachs | Goldman Sachs | financial services | toxic securities abuses | 2016 | DOJ | $5,060,000,000 |
| Morgan Stanley | Morgan Stanley | financial services | toxic securities abuses | 2016 | DOJ | $2,600,000,000 |
| Standard & Poor's Financial Services LLC | S&P Global | information technology | toxic securities abuses | 2015 | DOJ | $1,375,000,000 |
| Citigroup Inc. | Citigroup | financial services | toxic securities abuses | 2014 | DOJ | $7,000,000,000 |
| JPMorgan Chase | JPMorgan Chase | financial services | toxic securities abuses | 2013 | DOJ | $13,000,000,000 |
| RBS Securities, Inc. | NatWest Group PLC | financial services | toxic securities abuses | 2016 | CT-AG | $120,000,000 |
| JPMorgan Chase | JPMorgan Chase | financial services | investor protection violation | 2013 | CFTC | $100,000,000 |
| J.P. Morgan Chase & Co. | JPMorgan Chase | financial services | toxic securities abuses | 2013 | CA-AG | (*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $298,973,000 |
| Morgan Stanley | Morgan Stanley | financial services | investor protection violation | 2019 | CA-AG | $150,000,000 |
| Royal Bank of Scotland | NatWest Group PLC | financial services | toxic securities abuses | 2017 | CA-AG | $125,000,000 |
| Wells Fargo | Wells Fargo | financial services | investor protection violation | 2009 | CA-AG | $1,400,000,000 |
| Bank of America N.A. | Bank of America | financial services | consumer protection violation | 2015 | private lawsuit-federal | $34,500,000 |
| Countrywide Financial Corporation | Bank of America | financial services | consumer protection violation | 2013 | private lawsuit-federal | $500,000,000 |
| Citigroup Global Markets Inc. | Citigroup | financial services | consumer protection violation | 2015 | private lawsuit-federal | $78,333,333 |
| Credit Suisse | UBS | financial services | consumer protection violation | 2016 | private lawsuit-federal | $110,000,000 |
| Deutsche Bank | Deutsche Bank | financial services | investor protection violation | 2012 | private lawsuit-federal | $32,500,000 |
| Deutsche Bank AG | Deutsche Bank | financial services | consumer protection violation | 2019 | private lawsuit-federal | $55,000,000 |
| Goldman Sachs | Goldman Sachs | financial services | consumer protection violation | 2016 | private lawsuit-federal | $272,000,000 |
| Goldman Sachs | Goldman Sachs | financial services | consumer protection violation | 2015 | private lawsuit-federal | $78,333,333 |
| Goldman Sachs | Goldman Sachs | financial services | consumer protection violation | 2012 | private lawsuit-federal | $26,612,500 |
| Goldman Sachs Group Inc. | Goldman Sachs | financial services | consumer protection violation | 2016 | private lawsuit-federal | $27,500,000 |
| JPMorgan Chase & Co. | JPMorgan Chase | financial services | consumer protection violation | 2015 | private lawsuit-federal | $388,000,000 |
| JPMorgan Chase & Co. | JPMorgan Chase | financial services | consumer protection violation | 2015 | private lawsuit-federal | $280,000,000 |
| JPMorgan Chase & Co. | JPMorgan Chase | financial services | consumer protection violation | 2015 | private lawsuit-federal | $505,000,000 |
| Morgan Stanley & Co. | Morgan Stanley | financial services | consumer protection violation | 2014 | private lawsuit-federal | $95,000,000 |
| Royal Bank of Scotland Group | NatWest Group PLC | financial services | consumer protection violation | 2014 | private lawsuit-federal | $275,000,000 |
| Royal Bank of Scotland PLC | NatWest Group PLC | financial services | consumer protection violation | 2019 | private lawsuit-federal | $55,000,000 |
| U.S. Bank NA | U.S. Bancorp | financial services | consumer protection violation | 2015 | private lawsuit-federal | $34,500,000 |
| UBS Securities LLC | UBS | financial services | consumer protection violation | 2015 | private lawsuit-federal | $78,333,333 |
| Wells Fargo & Co. | Wells Fargo | financial services | consumer protection violation | 2019 | private lawsuit-federal | $55,000,000 |
| Wells Fargo Bank N.A. | Wells Fargo | financial services | consumer protection violation | 2011 | private lawsuit-federal | $125,000,000 |
| RAIT Financial Trust | | | consumer protection violation | 2009 | private lawsuit-federal | $32,000,000 |
