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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 |
Deutsche Bank | Deutsche Bank | financial services | toxic securities abuses | 2017 | DOJ_CIVIL | $7,200,000,000 |
Deutsche Bank | Deutsche Bank | financial services | toxic securities abuses | 2017 | MD-AG | $95,000,000 |
Deutsche Bank | Deutsche Bank | financial services | investor protection violation | 2012 | private lawsuit-federal | $32,500,000 |
Credit Suisse Securities (USA) LLC et al. | UBS | financial services | investor protection violation | 2022 | NJ-AG | $495,000,000 |
Credit Suisse Securities (USA) | UBS | financial services | toxic securities abuses | 2012 | SEC | $120,000,000 |
Credit Suisse | UBS | financial services | toxic securities abuses | 2014 | FHFA | $885,000,000 |
Credit Suisse | UBS | financial services | toxic securities abuses | 2016 | NCUA | $50,300,000 |
Credit Suisse | UBS | financial services | toxic securities abuses | 2017 | DOJ_CIVIL | $5,280,000,000 |
Credit Suisse | UBS | financial services | consumer protection violation | 2016 | private lawsuit-federal | $110,000,000 |
Credit Acceptance Corporation | Credit Acceptance Corp. | financial services | consumer protection violation | 2021 | MA-AG | $27,200,000 |
Countrywide Financial Corporation | Bank of America | financial services | consumer protection violation | 2013 | private lawsuit-federal | $500,000,000 |
Citimortgage Inc. and Citibank N.A. | Citigroup | financial services | toxic securities abuses | 2013 | FHFA | $395,000,000 |
Citigroup Inc. | Citigroup | financial services | toxic securities abuses | 2014 | DOJ | $7,000,000,000 |
Citigroup Inc. | Citigroup | financial services | toxic securities abuses | 2010 | SEC | $75,000,000 |
Citigroup Inc. | Citigroup | financial services | toxic securities abuses | 2014 | 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. $291,750,000 |
Citigroup Global Markets, Inc. and Citi Smith Barney | Citigroup | financial services | investor protection violation | 2008 | MULTI-AG | $7,100,000,000 |
Citigroup Global Markets Inc. and Citigroup Alternative Investments LLC | Citigroup | financial services | investor protection violation | 2015 | SEC | $180,000,000 |
Citigroup Global Markets Inc. | Citigroup | financial services | investor protection violation | 2010 | MULTI-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 |
Citigroup Global Markets Inc. | Citigroup | financial services | consumer protection violation | 2015 | private lawsuit-federal | $78,333,333 |
Citigroup | Citigroup | financial services | toxic securities abuses | 2011 | SEC | $285,000,000 |
Citigroup | Citigroup | financial services | toxic securities abuses | 2013 | FHFA | $968,000,000 |
Branch Banking & Trust Company (BB&T) | Truist Financial | financial services | False Claims Act and related | 2016 | DOJ_CIVIL | $83,000,000 |
Bear Stearns | JPMorgan Chase | financial services | investor protection violation | 2012 | MI-AG | $275,000,000 |
Barclays Capital, Inc. | Barclays | financial services | toxic securities abuses | 2018 | USAO | $2,000,000,000 |
Barclays Capital Inc. | Barclays | financial services | toxic securities abuses | 2015 | NCUA | $325,000,000 |
Barclays Bank PLC | Barclays | financial services | toxic securities abuses | 2014 | FHFA | $280,000,000 |
Barclays Bank PLC | Barclays | financial services | toxic securities abuses | 2013 | MA-AG | $36,100,000 |
Bank of America N.A. | Bank of America | financial services | consumer protection violation | 2015 | private lawsuit-federal | $34,500,000 |
Bank of America Corporation | Bank of America | financial services | toxic securities abuses | 2014 | FHFA | $9,300,000,000 |
Bank of America | Bank of America | financial services | toxic securities abuses | 2011 | FHFA | $1,300,000,000 |
Bank of America | Bank of America | financial services | toxic securities abuses | 2011 | FHFA | $1,520,000,000 |
Bank of America | Bank of America | financial services | toxic securities abuses | 2013 | NCUA | $165,000,000 |
Bank of America | Bank of America | financial services | investor protection violation | 2012 | MULTI-AG | $2,430,000,000 |
Bank of America | Bank of America | financial services | investor protection violation | 2013 | MULTI-AG | $500,000,000 |
Bank of America | Bank of America | financial services | investor protection violation | 2008 | MULTI-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 LLC | Bank of America | financial services | investor protection violation | 2008 | MULTI-AG | $4,550,000,000 |
Aurora Loan Services, LLC | | | toxic securities abuses | 2018 | USAO | $41,000,000 |
Ambac Financial Group et al. | Ambac Financial | financial services | toxic securities abuses | 2013 | USAO | $101,900,000 |
Ally Financial Inc. | Ally Financial | financial services | toxic securities abuses | 2016 | USAO | $52,000,000 |
Allianz Global Investors U.S. LLC | Allianz | financial services | investor protection violation | 2022 | USAO | $5,763,000,000 |