Violation Tracker Individual Record

Company: 
Branch Banking & Trust Company (BB&T)
Current Parent Company: 
BB&T
Penalty: 
$83,000,000
Year: 
2016
Date: 
September 29, 2016
Primary Offense: 
False Claims Act
Violation Description: 

Branch Banking & Trust Company (BB&T) agreed to pay the United States $83 million to resolve allegations that it violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development's Federal Housing Administration that did not meet applicable requirements.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Justice Department Civil Division
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
North Carolina
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.