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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 Type sort iconYearAgencyPenalty Amount
Morgan StanleyMorgan Stanleyfinancial servicesinvestor protection violation2019CA-AG$150,000,000
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
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
Wells FargoWells Fargofinancial servicesinvestor protection violation2009CA-AG$1,400,000,000
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 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
Allianz Global Investors U.S. LLCAllianzfinancial servicesinvestor protection violation2022USAO$5,763,000,000
Credit Suisse Securities (USA) LLC et al.UBSfinancial servicesinvestor protection violation2022NJ-AG$495,000,000
Deutsche BankDeutsche Bankfinancial servicesinvestor protection violation2012private lawsuit-federal$32,500,000
Nomura Securities InternationalNomurafinancial servicesfraud2023USAO$35,000,000
Branch Banking & Trust Company (BB&T)Truist Financialfinancial servicesFalse Claims Act and related2016DOJ_CIVIL$83,000,000
Credit Acceptance CorporationCredit Acceptance Corp.financial servicesconsumer protection violation2021MA-AG$27,200,000
Bank of America N.A.Bank of Americafinancial servicesconsumer protection violation2015private lawsuit-federal$34,500,000
Countrywide Financial CorporationBank of Americafinancial servicesconsumer protection violation2013private lawsuit-federal$500,000,000
Citigroup Global Markets Inc.Citigroupfinancial servicesconsumer protection violation2015private lawsuit-federal$78,333,333
Credit SuisseUBSfinancial servicesconsumer protection violation2016private lawsuit-federal$110,000,000
Deutsche Bank AGDeutsche Bankfinancial servicesconsumer protection violation2019private lawsuit-federal$55,000,000
Goldman SachsGoldman Sachsfinancial servicesconsumer protection violation2016private lawsuit-federal$272,000,000
Goldman SachsGoldman Sachsfinancial servicesconsumer protection violation2015private lawsuit-federal$78,333,333
Goldman SachsGoldman Sachsfinancial servicesconsumer protection violation2012private lawsuit-federal$26,612,500
Goldman Sachs Group Inc.Goldman Sachsfinancial servicesconsumer protection violation2016private lawsuit-federal$27,500,000
JPMorgan Chase & Co.JPMorgan Chasefinancial servicesconsumer protection violation2015private lawsuit-federal$388,000,000
JPMorgan Chase & Co.JPMorgan Chasefinancial servicesconsumer protection violation2015private lawsuit-federal$280,000,000
JPMorgan Chase & Co.JPMorgan Chasefinancial servicesconsumer protection violation2015private lawsuit-federal$505,000,000
Morgan Stanley & Co.Morgan Stanleyfinancial servicesconsumer protection violation2014private lawsuit-federal$95,000,000
Royal Bank of Scotland GroupNatWest Group PLCfinancial servicesconsumer protection violation2014private lawsuit-federal$275,000,000
Royal Bank of Scotland PLCNatWest Group PLCfinancial servicesconsumer protection violation2019private lawsuit-federal$55,000,000
U.S. Bank NAU.S. Bancorpfinancial servicesconsumer protection violation2015private lawsuit-federal$34,500,000
UBS Securities LLCUBSfinancial servicesconsumer protection violation2015private lawsuit-federal$78,333,333
Wells Fargo & Co.Wells Fargofinancial servicesconsumer protection violation2019private lawsuit-federal$55,000,000
Wells Fargo Bank N.A.Wells Fargofinancial servicesconsumer protection violation2011private lawsuit-federal$125,000,000
RAIT Financial Trust consumer protection violation2009private lawsuit-federal$32,000,000
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.