Violation Tracker Individual Record

Company: 
Wells Fargo & Company
Current Parent Company: 
Wells Fargo
Penalty: 
$87,000,000
Year: 
2012
Date: 
February 9, 2012
Primary Offense: 
banking violation
Secondary Offense: 
mortgage abuses
Violation Description: 

The Federal Reserve Board released orders related to the previously announced monetary sanctions against five banking organizations for unsafe and unsound processes and practices in residential mortgage loan servicing and processing.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Federal Reserve
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
California
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.