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Violation Tracker Individual Record

Company: Bank of New York Mellon Corporation
Current Parent Company: Bank of New York Mellon
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $3,000,000
Year: 2017
Date: June 27, 2017
Offense Group: financial offenses
Primary Offense: banking violation
Violation Description: The Federal Reserve Board announced a $3 million fine against Bank of New York Mellon Corporation for unsafe and unsound practices after the firm improperly assigned a lower risk weighting to a portfolio of assets, reducing the firm's risk-based capital ratios.
Level of Government: federal
Action Type: agency action
Agency: Federal Reserve
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.