Violation Tracker Individual Record
Company:
Wells Fargo
Current Parent Company:
Wells Fargo
Penalty:
$1,400,000,000
Year:
2009
Date:
November 18, 2009
Offense Group:
financial offenses
Primary Offense:
investor protection violation
Violation Description:
The California Attorney General announced a $1.4 billion settlement with three Wells Fargo affiliates to pay back investors, charities and small businesses that purchased auction-rate securities based on misleading advice.
Level of Government:
state
Action Type:
agency action
Agency:
California Attorney General
Civil or Criminal Case:
civil
Facility State:
California
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.
