Violation Tracker Individual Record

Company: 
Wells Fargo Bank
Current Parent Company: 
Wells Fargo
Penalty: 
$741,465
Year: 
2011
Date: 
August 17, 2011
Primary Offense: 
consumer protection violation
Violation Description: 

Wells Fargo agreed to pay for loan modifications plus $741,465 to the state for foreclosure prevention in settlement of allegations to companies it acquired, Wachovia and Golden West Financial, violated state consumer protection laws by failing to fully explain the loan payments of adjustable-rate mortgages.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Connecticut Attorney General
Civil or Criminal Case: 
civil
Private Lawsuit Resolution Type: 
settlement
Facility State: 
Connecticut
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.