Violation Tracker Individual Record
Company:
Bank of New York Mellon Corporation
Current Parent Company:
Bank of New York Mellon
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 Parent:
USA
HQ State of Parent:
New York
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
