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
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.