Violation Tracker Individual Record

Company: 
Wells Fargo Bank, N.A. and Wells Fargo Insurance, Inc.
Current Parent Company: 
Wells Fargo
Penalty: 
$5,345,816
Year: 
2019
Date: 
January 2, 2019
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
insurance violation
Violation Description: 

Wells Fargo agreed to pay a $10 million penalty ($5 million suspended unless it applied for new licenses) and $345,816 in costs in settlement of allegations it issued unauthorized insurance policies.

Level of Government: 
state
Action Type: 
agency action
Agency: 
California Department of Insurance
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.