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Violation Tracker Individual Record

Company: State Street Corp.
Current Parent CompanyState Street Corp.
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $53,500,000
Year: 2019
Date: June 14, 2019
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: State Street agreed to pay restitution expected to exceed $48 million and a $5.5 million civil penalty in settlement of allegations it overcharged clients for use of the SWIFT system, charging markups for sending messages when the system was expected to be paid for on an out-of-pocket basis. A related settlement with the U.S. Securities and Exchange Commission resolved federal allegations.
Level of Government: state
Action Type: agency action
Agency: Massachusetts Attorney General
Civil or Criminal Case: civil
Facility State: Massachusetts
HQ Country of Current Parent: USA
HQ State of Current Parent: Massachusetts
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.