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Violation Tracker Individual Record

Company: Bank of the West
Current Parent Company: Bank of Montreal
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $18,000,000
Year: 2012
Date: December 18, 2012
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: banking violation
Violation Description: Bank of the West agreed to pay $18 million to settle litigation concerning improper overdraft fees resulting from the way that debit-card transactions were processed.
Level of Government: federal
Action Type: private litigation
Court: Southern District of Florida
Civil or Criminal Case: civil
Case ID: 1:09md2036
Case Name: In re: Checking Account Overdraft Litigation
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: Canada
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)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.