Violation Tracker Individual Record

Company: 
Santander Bank, N.A.
Current Parent Company: 
Banco Santander
Penalty: 
$10,000,000
Year: 
2016
Date: 
July 14, 2016
Primary Offense: 
consumer protection violation
Secondary Offense: 
banking violation
Violation Description: 

The Consumer Financial Protection Bureau ordered Santander Bank, N.A. to pay a $10 million fine for illegal overdraft service practices. The agency said Santander's telemarketing vendor deceptively marketed the overdraft service and signed certain bank customers up for the service without their consent.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Consumer Financial Protection Bureau
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Spain
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.