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Violation Tracker Individual Record

Company: Wells Fargo
Current Parent Company: Wells Fargo
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $33,868,615
Year: 2010
Date: December 20, 2010
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: Wells Fargo agreed to pay $33.8 million -- $32 million in customer restitution -- to resolve a case brought by the California Attorney General concerning risky so-called pick-a-pay adjustable rate mortgages.
Level of Government: state
Action Type: agency action
Agency: California Attorney General
Civil or Criminal Case: civil
Facility State: California
HQ Country of Current Parent: USA
HQ State of Current Parent: California
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.