Violation Tracker Parent Company Summary
Parent Company Name:
Wells Fargo
Ownership Structure:
publicly traded (ticker symbol WFC)
Headquartered in:
California
Major Industry:
financial services
Specific Industry:
banking
Penalty total since 2000:
$21,881,892,841
Number of records:
222
| Top 5 Offense Groups (Groups Defined) | Penalty Total | Number of Records |
|---|---|---|
| financial offenses | $10,402,453,489 | 121 |
| consumer-protection-related offenses | $6,421,664,484 | 36 |
| competition-related offenses | $3,148,000,000 | 3 |
| government-contracting-related offenses | $1,204,046,786 | 2 |
| employment-related offenses | $705,192,082 | 54 |
| Top 5 Primary Offense Types | Penalty Total | Number of Records |
|---|---|---|
| mortgage abuses | $5,625,783,671 | 7 |
| banking violation | $4,023,432,386 | 17 |
| toxic securities abuses | $3,637,750,000 | 7 |
| fraud | $3,000,000,000 | 1 |
| investor protection violation | $2,487,362,735 | 82 |
Notes:
Parent-subsidiary linkages are based on relationships current as of the latest revision listed in the Update Log, which may vary from what was the case when a violation occurred. The penalty totals are adjusted to account for the fact that the individual entries below 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. The totals 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 list below.
Links:
Individual Penalty Records:
Click on the company or penalty amount for more information on each case.
| Company | Primary Offense Type |
Year |
Agency | Penalty Amount |
|---|---|---|---|---|
| Prudential Securities Incorporated | investor protection violation | 2000 | SEC | $5,880,000 |
| First Union Bank | labor relations violation | 2000 | NLRB | $9,116 |
| Wachovia National Bank, N.A. | benefit plan administrator violation | 2000 | EBSA | $30,000,000 |
| First Union Securities, Inc. | investor protection violation | 2000 | SEC | $408,931 |
| First Union Securities, Inc. | investor protection violation | 2000 | FINRA | $350,000 |
| A.G. Edwards & Sons, Inc. | investor protection violation | 2000 | FINRA | $5,890,000 |
| Prudential Securities, Inc. | investor protection violation | 2000 | FINRA | $100,000 |
| Prudential Securities Incorporated | investor protection violation | 2001 | SEC | $800,000 |
| Prudential Securities Incorporated | investor protection violation | 2001 | FINRA | $20,000 |
| Prudential Securities, Inc. | investor protection violation | 2001 | FINRA | $10,000 |
| First Union Brokerage Services, Inc. | investor protection violation | 2001 | FINRA | $32,500 |
| Prudential Securities, Inc. | data submission deficiencies | 2002 | CFTC | $65,000 |
| Norwest Investment Services, Inc. | investor protection violation | 2002 | SEC | $153,245 |
| A.G. Edwards & Sons, Inc. | data submission deficiencies | 2003 | CFTC | $45,000 |
| Wells Fargo Bank | economic sanction violation | 2003 | OFAC | $5,500 |
| Prudential Securities, Inc. | investor protection violation | 2003 | SEC | $382,000 |
| Wells Fargo Financial Bank | consumer protection violation | 2003 | NY-AG | $33,500 |
| Wells Fargo Home Mortgage, Inc. | consumer protection violation | 2003 | CA-SCCDA | $25,000 |
| Wells Fargo Financial Texas, Inc. | employment discrimination | 2003 | EEOC | $110,000 |
| A.G. Edwards & Sons Inc. | investor protection violation | 2003 | NE-DBF | $20,000 |
| First Union Bank | economic sanction violation | 2004 | OFAC | $18,740 |
| Wachovia Bank | economic sanction violation | 2004 | OFAC | $11,000 |
| Wachovia Corporation | investor protection violation | 2004 | SEC | $37,000,000 |
| Strong Capital Management, Inc. | investor protection violation | 2004 | SEC | $80,000,000 |
| Wachovia Securities, LLC | investor protection violation | 2004 | SEC | $4,844,465 |
| Wells Fargo Bank, National Association | wage and hour violation | 2004 | WHD | $228,209 |
| Wachovia Bank | wage and hour violation | 2004 | WHD | $5,798,744 |
| Strong Capital Management Co. | investor protection violation | 2004 | MULTI-AG | (*) $115,000,000 |
| Wells Fargo | consumer protection violation | 2004 | NY-AG | $2,900,000 |
| Ragen Mackenzie Investment Services LLC | investor protection violation | 2004 | OR-FIN | $8,500 |
| WFS Financial, Inc. | discriminatory practices (non-employment) | 2004 | private lawsuit-federal | $4,550,000 |
| Wachovia Securities LLC | investor protection violation | 2004 | FINRA | $650,000 |
| Wells Fargo Investments, LLC | investor protection violation | 2004 | FINRA | $150,000 |
| Wachovia Securities, LLC. | investor protection violation | 2004 | FINRA | $39,486 |
| WELLS FARGO SECURITIES, LLC. | workplace safety or health violation | 2004 | OSHA | $5,000 |
| Wachovia Bank | economic sanction violation | 2005 | OFAC | $5,500 |
| Wells Fargo Bank | economic sanction violation | 2005 | OFAC | $42,833 |
| Wells Fargo Bank, National Association | banking violation | 2005 | OCC | $115,000 |
| Wells Fargo Financial Leasing, Inc. | consumer protection violation | 2005 | MULTI-AG | $10,000,000 |
| Wells Fargo Financial California, Inc. | consumer protection violation | 2005 | CA-DFPI | $1,621,010 |
| Wells Fargo Investments | investor protection violation | 2005 | FINRA | $3,000,000 |
| Wells Fargo Investments, LLC | investor protection violation | 2005 | FINRA | $2,970,000 |
| A.G. Edwards & Sons, Inc. | investor protection violation | 2006 | SEC | $125,000 |
| Wachovia Capital Markets, LLC | investor protection violation | 2006 | SEC | $125,000 |
| Wells Fargo Bank | Family and Medical Leave Act | 2006 | WHD | $5,152 |
| Strong Capital Management, Inc. | investor protection violation | 2006 | SEC | $2,185,927 |
| Wachovia Capital Markets LLC | investor protection violation | 2006 | MULTI-AG | $25,000,000 |
| Wachovia Bank | economic sanction violation | 2007 | OFAC | $11,000 |
| Evergreen Investment Management Company | investor protection violation | 2007 | SEC | $32,500,000 |
| A.G. Edwards & Sons, Inc. | investor protection violation | 2007 | SEC | $3,860,000 |
| A.G. Edwards | wage and hour violation | 2007 | private lawsuit-federal | $20,000,000 |
| Wells Fargo | wage and hour violation | 2007 | private lawsuit-federal | $12,800,000 |
| Wachovia Capital Markets, LLC | investor protection violation | 2007 | MD-AG | $402,386 |
| Wachovia Capital Markets, LLC | investor protection violation | 2007 | CT-SEC | $258,728 |
| Wachovia Securities LLC | investor protection violation | 2007 | ND-SEC | $75,000 |
| A.G. Edwards & Sons Inc. | investor protection violation | 2007 | SC-SEC | $575,000 |
| Wachovia Capital Markets LLC | investor protection violation | 2007 | MULTI-FIN | $24,650,000 |
| Wachovia Capital Markets, LLC | investor protection violation | 2007 | FINRA | $300,000 |
| Wells Fargo Securities, LLC | investor protection violation | 2007 | FINRA | $250,000 |
| Wachovia Securities LLC | investor protection violation | 2007 | FINRA | $2,000,000 |
| A.G. Edwards and Sons Inc. | economic sanction violation | 2008 | OFAC | $122,358 |
| Wachovia Bank, National Association | banking violation | 2008 | OCC | $168,900,000 |
| A.G. Edwards & Sons, Inc. | investor protection violation | 2008 | NJ-AG | $387,000 |
| Wachovia Securities | investor protection violation | 2008 | MULTI-AG | $60,000,000 |
| Wells Fargo Bank | False Claims Act and related | 2008 | USAO | $4,046,786 |
| Wachovia Securities, LLC | investor protection violation | 2008 | MD-SEC | $50,000 |
| A.G. Edwards & Sons Inc. | investor protection violation | 2008 | TX-SEC | $5,000 |
| Wachovia Securities LLC | investor protection violation | 2008 | MULTI-FIN | (*) $50,000,000 |
| Prudential Securities | investor protection violation | 2008 | FINRA | $1,050,000 |
| WELLS FARGO FINANCIAL BANK | banking violation | 2009 | FDIC | $125,000 |
| Wells Fargo Bank, National Association | banking violation | 2009 | OCC | $51,205 |
| Evergreen Investment Management Company LLC | investor protection violation | 2009 | SEC | $40,000,000 |
| Wachovia Securities | wage and hour violation | 2009 | private lawsuit-federal | $39,000,000 |
| A.G. Edwards | wage and hour violation | 2009 | private lawsuit-federal | $12,000,000 |
| Wachovia Securities | benefit plan administrator violation | 2009 | private lawsuit-federal | $1,005,000 |
| Wachovia Securities, LLC | investor protection violation | 2009 | DE-AG | $309,000 |
| Wells Fargo | investor protection violation | 2009 | CA-AG | $1,400,000,000 |
| Wells Fargo Investments, LLC | investor protection violation | 2009 | MULTI-FIN | $1,900,000 |
| Wells Fargo Investments, LLC | investor protection violation | 2009 | FINRA | $275,000 |
| Wachovia Securities, LLC | investor protection violation | 2009 | FINRA | $1,400,000 |
| Wachovia Securities, LLC and First Clearing, LLC | investor protection violation | 2009 | FINRA | $1,100,000 |
| Wachovia Securities | investor protection violation | 2009 | FINRA | $4,500,000 |
| Wachovia Bank N.A. | banking violation | 2010 | OCC | $50,000,000 |
| Wachovia Bank | anti-money-laundering deficiencies | 2010 | FINCEN | $110,000,000 |
| Wachovia Bank N.A. | anti-money-laundering deficiencies | 2010 | USAO | $50,000,000 |
| Wachovia Financial Services | wage and hour violation | 2010 | private lawsuit-federal | $450,000 |
| Wells Fargo | wage and hour violation | 2010 | private lawsuit-federal | $20,000,000 |
| Wells Fargo | consumer protection violation | 2010 | MULTI-AG | $23,700,000 |
| Wells Fargo | mortgage abuses | 2010 | CA-AG | $33,868,615 |
| Wells Fargo Bank, N.A | economic sanction violation | 2010 | OFAC | $67,500 |
| Wachovia Securities, LLC | investor protection violation | 2010 | AK-DBS | $129,131 |
| Wachovia Securities, LLC nka Wells Fargo Advisors, LLC | investor protection violation | 2010 | CT-SEC | $75,000 |
| Wells Fargo Advisors, LLC | investor protection violation | 2010 | IN-SEC | $8,495 |
| Wachovia Bank N.A. | price-fixing or anti-competitive practices | 2011 | DOJ_ANTITRUST | $148,000,000 |
| Wells Fargo Bank, National Association | banking violation | 2011 | OCC | $34,500,000 |
| Wells Fargo & Company | banking violation | 2011 | FED | $85,000,000 |
| Wells Fargo Securities LLC | toxic securities abuses | 2011 | SEC | $11,000,000 |
| Wells Fargo & Company | Americans with Disabilities Act | 2011 | DOJ_RIGHTS | $16,055,000 |
| Wells Fargo Bank NA | wage and hour violation | 2011 | WHD | $31,770 |
| Wells Fargo | wage and hour violation | 2011 | private lawsuit-federal | $6,660,000 |
| Wells Fargo Bank | wage and hour violation | 2011 | private lawsuit-federal | $100,000 |
