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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 TypeYearAgencyPenalty Amount sort icon
Goldman SachsGoldman Sachsfinancial servicesconsumer protection violation2015private lawsuit-federal$78,333,333
UBS Securities LLCUBSfinancial servicesconsumer protection violation2015private lawsuit-federal$78,333,333
Citigroup Inc.Citigroupfinancial servicestoxic securities abuses2010SEC$75,000,000
UBSUBSfinancial servicestoxic securities abuses2016NCUA$69,800,000
SunTrust Mortgage, Inc.Truist Financialfinancial servicestoxic securities abuses2013FHFA$65,000,000
Morgan Stanley & Co. LLCMorgan Stanleyfinancial servicestoxic securities abuses2016FDIC$62,950,000
Goldman Sachs & Co.Goldman Sachsfinancial servicesmortgage abuses2009MA-AG$60,000,000
Wachovia SecuritiesWells Fargofinancial servicesinvestor protection violation2008MULTI-AG$60,000,000
Standard & Poor's Ratings ServicesS&P Globalinformation technologytoxic securities abuses2015SEC$58,000,000
Deutsche Bank AGDeutsche Bankfinancial servicesinvestor protection violation2015SEC$55,000,000
Deutsche Bank AGDeutsche Bankfinancial servicesconsumer protection violation2019private lawsuit-federal$55,000,000
Royal Bank of Scotland PLCNatWest Group PLCfinancial servicesconsumer protection violation2019private lawsuit-federal$55,000,000
Wells Fargo & Co.Wells Fargofinancial servicesconsumer protection violation2019private lawsuit-federal$55,000,000
Ally Financial Inc.Ally Financialfinancial servicestoxic securities abuses2016USAO$52,000,000
RBS Financial Products Inc.NatWest Group PLCfinancial servicestoxic securities abuses2011MA-AG$52,000,000
Credit SuisseUBSfinancial servicestoxic securities abuses2016NCUA$50,300,000
UBS SecuritiesUBSfinancial servicestoxic securities abuses2013SEC$50,000,000
Societe Generale S.A.Societe Generalefinancial servicestoxic securities abuses2017USAO$50,000,000
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
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
RBS Securities Inc.NatWest Group PLCfinancial servicestoxic securities abuses2017USAO$44,000,000
RBS Financial ProductsNatWest Group PLCfinancial servicestoxic securities abuses2012NV-AG$42,000,000
Aurora Loan Services, LLC toxic securities abuses2018USAO$41,000,000
Evergreen Investment Management Company LLCWells Fargofinancial servicesinvestor protection violation2009SEC$40,000,000
Barclays Bank PLCBarclaysfinancial servicestoxic securities abuses2013MA-AG$36,100,000
UBS Financial Services, Inc. and UBS Securities LLCUBSfinancial servicestoxic securities abuses2008MA-AG$35,000,000
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
Nomura Securities InternationalNomurafinancial servicesfraud2023USAO$35,000,000
Bank of America N.A.Bank of Americafinancial servicesconsumer protection violation2015private lawsuit-federal$34,500,000
U.S. Bank NAU.S. Bancorpfinancial servicesconsumer protection violation2015private lawsuit-federal$34,500,000
Deutsche BankDeutsche Bankfinancial servicesinvestor protection violation2012private lawsuit-federal$32,500,000
RAIT Financial Trust consumer protection violation2009private lawsuit-federal$32,000,000
Lehman Brothers, Inc. investor protection violation2014WA-AG$31,300,000
Oppenheimer & Co. Inc.Oppenheimer Holdingsfinancial servicesinvestor protection violation2010MULTI-AG$31,000,000
Option One Mortgage CorporationOcwen Financialfinancial servicestoxic securities abuses2012SEC$28,200,000
Goldman Sachs Group Inc.Goldman Sachsfinancial servicesconsumer protection violation2016private lawsuit-federal$27,500,000
Credit Acceptance CorporationCredit Acceptance Corp.financial servicesconsumer protection violation2021MA-AG$27,200,000
Goldman SachsGoldman Sachsfinancial servicesconsumer protection violation2012private lawsuit-federal$26,612,500
Jefferies LLCJefferies Financial Groupdiversifiedinvestor protection violation2014SEC$25,000,000
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
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.