Violation Tracker Individual Record
Company:
Wells Fargo & Company
Current Parent Company:
Wells Fargo
Penalty:
$65,000,000
Year:
2018
Date:
October 22, 2018
Offense Group:
financial offenses
Primary Offense:
investor protection violation
Violation Description:
The New York Attorney announced that Wells Fargo & Company agreed to pay a $65 million penalty to resolve allegations that the bank made fraudulent statements to investors in connection with its cross-sell business model, related sales practices, and the bank's publicly reported cross-sell metrics.
Level of Government:
state
Action Type:
agency action
Agency:
New York Attorney General
Civil or Criminal Case:
civil
Facility State:
New York
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.
