Violation Tracker Individual Record

Company: 
UBS
Current Parent Company: 
UBS
Penalty: 
$445,000,000
Year: 
2017
Date: 
May 1, 2017
Primary Offense: 
toxic securities abuses
Violation Description: 

The National Credit Union Administration, on behalf of U.S. Central Federal Credit Union and Western Corporate Federal Credit Union, received $445 million from UBS for claims arising from losses related to purchases of residential mortgage-backed securities by those corporate credit unions.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
National Credit Union Administration
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Switzerland
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
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.