Violation Tracker Individual Record

Company: 
Wells Fargo
Current Parent Company: 
Wells Fargo
Penalty: 
$17,250,000
Year: 
2018
Date: 
December 4, 2018
Primary Offense: 
toxic securities abuses
Violation Description: 

Wells Fargo agreed to pay $17.25 million in settlement of allegations of misconduct in the marketing and sale of risky mortgage-backed securities leading up to the 2008 economic collapse.

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