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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 TypeYear sort iconAgencyPenalty Amount
RBS Financial ProductsNatWest Group PLCfinancial servicestoxic securities abuses2012NV-AG$42,000,000
Deutsche BankDeutsche Bankfinancial servicesinvestor protection violation2012private lawsuit-federal$32,500,000
Goldman SachsGoldman Sachsfinancial servicesconsumer protection violation2012private lawsuit-federal$26,612,500
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
Bank of AmericaBank of Americafinancial servicestoxic securities abuses2011FHFA$1,300,000,000
Bank of AmericaBank of Americafinancial servicestoxic securities abuses2011FHFA$1,520,000,000
Deutsche Bank SecuritiesDeutsche Bankfinancial servicestoxic securities abuses2011NCUA$145,000,000
RBS Financial Products Inc.NatWest Group PLCfinancial servicestoxic securities abuses2011MA-AG$52,000,000
Wells Fargo Bank N.A.Wells Fargofinancial servicesconsumer protection violation2011private lawsuit-federal$125,000,000
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
Morgan Stanley & Co.Morgan Stanleyfinancial servicestoxic securities abuses2010MA-AG$102,000,000
Oppenheimer & Co. Inc.Oppenheimer Holdingsfinancial servicesinvestor protection violation2010MULTI-AG$31,000,000
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
Evergreen Investment Management Company LLCWells Fargofinancial servicesinvestor protection violation2009SEC$40,000,000
Goldman Sachs & Co.Goldman Sachsfinancial servicesmortgage abuses2009MA-AG$60,000,000
Merrill LynchBank of Americafinancial servicesinvestor protection violation2009OH-AG$475,000,000
TD Ameritrade, Inc.Charles Schwab Corp.financial servicesinvestor protection violation2009MULTI-AG$456,000,000
Wells FargoWells Fargofinancial servicesinvestor protection violation2009CA-AG$1,400,000,000
RAIT Financial Trust consumer protection violation2009private lawsuit-federal$32,000,000
Banc of America Securities LLCBank of Americafinancial servicesinvestor protection violation2008MULTI-AG$4,550,000,000
Citigroup Global Markets, Inc. and Citi Smith BarneyCitigroupfinancial servicesinvestor protection violation2008MULTI-AG$7,100,000,000
Deutsche Bank Securities, Inc. and Deutsche Bank AGDeutsche Bankfinancial servicesinvestor protection violation2008MULTI-AG$3,348,333,333
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
Merrill Lynch & Co.Bank of Americafinancial servicesinvestor protection violation2008MULTI-AG$3,458,333,333
Morgan StanleyMorgan Stanleyfinancial servicesinvestor protection violation2008MULTI-AG$3,535,000,000
RBC Capital Markets CorporationRoyal Bank of Canadafinancial servicesinvestor protection violation2008MULTI-AG$859,800,000
UBS Financial Services, Inc. and UBS Securities LLCUBSfinancial servicestoxic securities abuses2008MA-AG$35,000,000
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
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
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 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
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.