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Violation Tracker Individual Record

Company: Union Bank of California, N.A.
Current Parent CompanyU.S. Bancorp
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Penalty: $10,000,000
Year: 2007
Date: September 17, 2007
Offense Group: financial offenses
Primary Offense: anti-money-laundering deficiencies
Secondary Offense: banking violation
Violation Description: The Financial Crimes Enforcement Network and the Office of the Comptroller of the Currency announced the assessment of concurrent civil money penalties, each $10 million, against Union Bank of California, N.A. of San Francisco, California, for violations of the Bank Secrecy Act. Union Bank, without admitting or denying the allegations, consented to payment of the civil money penalties, which were to be satisfied by a single payment of $10 million to the U.S. Department of the Treasury. Union Bank also consented to issuance of a Cease and Desist Order by the OCC.
Level of Government: federal
Action Type: agency action
Agency: Treasury Department Financial Crimes Enforcement Network
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Minnesota
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.