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Violation Tracker Individual Record

Company: Wells Fargo Bank N.A., d/b/a Wells Fargo Dealer Services
Current Parent Company: Wells Fargo
Penalty: $5,400,000
Year: 2017
Date: November 14, 2017
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: Servicemembers Civil Relief Act
Violation Description: The Justice Department announcedthat it obtained an additional $5.4 million for servicemembers whose vehicles were unlawfully repossessed by Wells Fargo Bank, N.A. in violation of the Servicemembers Civil Relief Act (SCRA). The bank, which does business under the name Wells Fargo Dealer Services, agreed to pay this money to approximately 450 servicemembers under a 2016 settlement that resolved the department's SCRA lawsuit against the company. This additional amount brought the total compensation under the settlement to more than $10.1 million and the total number of servicemembers eligible for relief to more than 860.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Civil Rights Division
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.