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Violation Tracker
source link: https://violationtracker.goodjobsfirst.org/?parent=wells-fargo&order=penalty&sort=desc
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Ownership Structure: publicly traded (ticker symbol WFC)
Headquartered in: California
Major Industry: financial services
Specific Industry: banking
Penalty total since 2000: $22,081,458,643
Number of records: 229
Notes: Parent-subsidiary linkages are based on relationships current as of the latest revision listed in the Update Log, which may vary from what was the case when a violation occurred. The penalty totals are adjusted to account for the fact that the individual entries below may include both agency records and settlement announcements for the same case; or else a penalty covering multiple locations may be listed in the individual records for each of the facilities. The totals are also adjusted to reflect cases in which federal and state or local agencies cooperated and issued separate announcements of the outcome. Duplicate or overlapping penalty amounts are marked with an asterisk in the list below.
Links: Subsidy Tracker data on financial assistance to this company by federal, state and local government agencies can be found here.
Violation Tracker Current Parent Company Summary
Current Parent Company Name: Wells FargoOwnership Structure: publicly traded (ticker symbol WFC)
Headquartered in: California
Major Industry: financial services
Specific Industry: banking
Penalty total since 2000: $22,081,458,643
Number of records: 229
| Top 5 Offense Groups (Groups Defined) | Penalty Total | Number of Records |
|---|---|---|
| financial offenses | $10,402,453,489 | 121 |
| consumer-protection-related offenses | $6,421,664,484 | 36 |
| competition-related offenses | $3,148,000,000 | 3 |
| government-contracting-related offenses | $1,204,046,786 | 2 |
| employment-related offenses | $904,757,884 | 61 |
| Top 5 Primary Offense Types | Penalty Total | Number of Records |
|---|---|---|
| mortgage abuses | $5,625,783,671 | 7 |
| banking violation | $4,023,432,386 | 17 |
| toxic securities abuses | $3,637,750,000 | 7 |
| fraud | $3,000,000,000 | 1 |
| investor protection violation | $2,487,362,735 | 82 |
Links: Subsidy Tracker data on financial assistance to this company by federal, state and local government agencies can be found here.
Individual Penalty Records:
Click on the company or penalty amount for more information on each case.
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| Company | Primary Offense Type | Year | Agency | |
|---|---|---|---|---|
| Wells Fargo & Company | mortgage abuses | 2012 | DOJ | $5,342,200,000 |
| Wells Fargo & Company | fraud | 2020 | DOJ_CIVIL | $3,000,000,000 |
| Wells Fargo Bank, N.A. | toxic securities abuses | 2018 | DOJ_CIVIL | $2,090,000,000 |
| Wells Fargo | banking violation | 2013 | OCC | $1,991,141,181 |
| Wells Fargo | investor protection violation | 2009 | CA-AG | $1,400,000,000 |
| Wells Fargo Bank, National Association | False Claims Act and related | 2016 | DOJ_CIVIL | $1,200,000,000 |
| Wells Fargo | mortgage abuses | 2012 | MULTI-AG | (*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $1,005,233,716 |
| Wells Fargo Bank, National Association | toxic securities abuses | 2013 | FHFA | $869,000,000 |
| Wells Fargo | toxic securities abuses | 2013 | FHFA | $591,000,000 |
| Wells Fargo Bank N.A. | banking violation | 2018 | MULTI-AG | $575,000,000 |
| Wells Fargo Bank N.A. | banking violation | 2018 | OCC | $500,000,000 |
| Wells Fargo Bank N.A. | consumer protection violation | 2018 | CFPB | $500,000,000 |
| Wells Fargo & Co. | investor protection violation | 2020 | SEC | (*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $500,000,000 |
| Wells Fargo Bank, National Association | banking violation | 2021 | OCC | $250,000,000 |
| Wells Fargo Bank | mortgage abuses | 2012 | DOJ_RIGHTS | $234,300,000 |
| Wachovia Bank, National Association | banking violation | 2008 | OCC | $168,900,000 |
| Wachovia Bank N.A. | price-fixing or anti-competitive practices | 2011 | DOJ_ANTITRUST | $148,000,000 |
| Wells Fargo and Company | benefit plan administrator violation | 2022 | EBSA | $145,000,000 |
| Strong Capital Management Co. | investor protection violation | 2004 | MULTI-AG | (*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $115,000,000 |
| Wachovia Bank | anti-money-laundering deficiencies | 2010 | FINCEN | $110,000,000 |
| Wells Fargo Bank | banking violation | 2016 | CFPB | $100,000,000 |
| Wells Fargo Bank, N.A. | wage and hour violation | 2021 | private lawsuit-federal | $95,696,122 |
| Wells Fargo & Company | banking violation | 2012 | FED | $87,000,000 |
| Wells Fargo & Company | banking violation | 2011 | FED | $85,000,000 |
| Wells Fargo Bank N.A. | bankruptcy professional violation | 2015 | DOJ_UTP | $81,600,000 |
| Strong Capital Management, Inc. | investor protection violation | 2004 | SEC | $80,000,000 |
| Wells Fargo & Company | benefit plan administrator violation | 2020 | private lawsuit-federal | $79,000,000 |
| Wells Fargo Bank, N.A. | banking violation | 2021 | USAO | $72,600,000 |
| Wells Fargo Bank, N.A. | banking violation | 2016 | OCC | $70,000,000 |
| Wells Fargo & Company | investor protection violation | 2018 | NY-AG | $65,000,000 |
| Wells Fargo Bank N.A. | benefit plan administrator violation | 2014 | private lawsuit-federal | $62,500,000 |
| Wachovia Securities | investor protection violation | 2008 | MULTI-AG | $60,000,000 |
| Wachovia Bank N.A. | price-fixing or anti-competitive practices | 2011 | MULTI-AG | (*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $58,750,000 |
| Wachovia | toxic securities abuses | 2015 | NCUA | $53,000,000 |
| Wachovia Bank N.A. | banking violation | 2010 | OCC | $50,000,000 |
| Wachovia Bank N.A. | anti-money-laundering deficiencies | 2010 | USAO | $50,000,000 |
| Wells Fargo | consumer protection violation | 2016 | CA-LACA | $50,000,000 |
| Wachovia Securities LLC | investor protection violation | 2008 | MULTI-FIN | (*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $50,000,000 |
| Evergreen Investment Management Company LLC | investor protection violation | 2009 | SEC | $40,000,000 |
| Wachovia Securities | wage and hour violation | 2009 | private lawsuit-federal | $39,000,000 |
| Wachovia Corporation | investor protection violation | 2004 | SEC | $37,000,000 |
| Wells Fargo Advisors | employment discrimination | 2017 | private lawsuit-federal | $35,500,000 |
| Wells Fargo Bank | banking violation | 2016 | OCC | $35,000,000 |
| Wells Fargo & Company | wage and hour violation | 2020 | private lawsuit-federal | $35,000,000 |
| Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network | investor protection violation | 2020 | SEC | $35,000,000 |
| Wells Fargo | consumer protection violation | 2015 | CFPB | $34,800,000 |
| Wells Fargo Bank, National Association | banking violation | 2011 | OCC | $34,500,000 |
| Wells Fargo | mortgage abuses | 2010 | CA-AG | $33,868,615 |
| Evergreen Investment Management Company | investor protection violation | 2007 | SEC | $32,500,000 |
| Wells Fargo & Co. | benefit plan administrator violation | 2022 | private lawsuit-federal | $32,500,000 |
| Wells Fargo Advisors | employment discrimination | 2011 | private lawsuit-federal | $32,000,000 |
| Wells Fargo Bank, N.A. | privacy violation | 2017 | private lawsuit-federal | $30,446,022 |
| Wachovia National Bank, N.A. | benefit plan administrator violation | 2000 | EBSA | $30,000,000 |
| Wells Fargo Bank, N.A. | privacy violation | 2021 | private lawsuit-federal | $28,000,000 |
| Wells Fargo | wage and hour violation | 2018 | private lawsuit-state | $27,500,000 |
| Wells Fargo Bank, N.A. | wage and hour violation | 2020 | private lawsuit-federal | $25,696,122 |
| Wachovia Capital Markets LLC | investor protection violation | 2006 | MULTI-AG | $25,000,000 |
| Wachovia Capital Markets LLC | investor protection violation | 2007 | MULTI-FIN | $24,650,000 |
| Wells Fargo | consumer protection violation | 2010 | MULTI-AG | $23,700,000 |
| Wells Fargo | workplace whistleblower retaliation | 2022 | OSHA | $22,000,000 |
| Wells Fargo Bank, National Association | consumer protection violation | 2016 | OCC | $20,000,000 |
| Wells Fargo | wage and hour violation | 2010 | private lawsuit-federal | $20,000,000 |
| A.G. Edwards | wage and hour violation | 2007 | private lawsuit-federal | $20,000,000 |
| Wells Fargo & Co. | investor protection violation | 2020 | MD-AG | $20,000,000 |
| Wells Fargo & Co. | employment discrimination | 2021 | private lawsuit-federal | $18,700,000 |
| Wells Fargo & Company | benefit plan administrator violation | 2011 | private lawsuit-federal | $17,500,000 |
| Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC | investor protection violation | 2019 | SEC | $17,363,847 |
| Wells Fargo | toxic securities abuses | 2018 | IL-AG | $17,250,000 |
| Wells Fargo & Company | Americans with Disabilities Act | 2011 | DOJ_RIGHTS | $16,055,000 |
| Wells Fargo | wage and hour violation | 2014 | private lawsuit-federal | $15,000,000 |
| Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC | investor protection violation | 2015 | FINRA | $15,000,000 |
| Wells Fargo Bank, N.A. | investor protection violation | 2019 | CFTC | $14,475,000 |
| Wells Fargo Bank | mortgage abuses | 2015 | MD-AG | $13,800,000 |
| Wells Fargo | wage and hour violation | 2017 | private lawsuit-state | $13,000,000 |
| Wells Fargo | wage and hour violation | 2007 | private lawsuit-federal | $12,800,000 |
| Wachovia Corporation | benefit plan administrator violation | 2011 | private lawsuit-federal | $12,350,000 |
| A.G. Edwards | wage and hour violation | 2009 | private lawsuit-federal | $12,000,000 |
| Wells Fargo Bank | employment screening violation | 2016 | private lawsuit-federal | $12,000,000 |
| Wells Fargo Securities LLC | toxic securities abuses | 2011 | SEC | $11,000,000 |
| Wells Fargo Bank | wage and hour violation | 2020 | private lawsuit-federal | $10,928,870 |
| Wells Fargo Financial Leasing, Inc. | consumer protection violation | 2005 | MULTI-AG | $10,000,000 |
| Wells Fargo & Co. | discriminatory practices (non-employment) | 2019 | private lawsuit-federal | $10,000,000 |
| Wells Fargo Advisors, LLC | wage and hour violation | 2018 | private lawsuit-federal | $9,500,000 |
| Wells Fargo Bank | privacy violation | 2016 | CA-AG | $8,500,000 |
| Wells Fargo | consumer protection violation | 2016 | WV-AG | $8,000,000 |
| Wells Fargo Bank, N.A. | employment discrimination | 2020 | OFCCP | $7,800,000 |
| Wells Fargo | discriminatory practices (non-employment) | 2012 | private lawsuit-federal | $7,500,000 |
| Wells Fargo Bank, N.A. | discriminatory practices (non-employment) | 2012 | private lawsuit-federal | $7,500,000 |
| Wells Fargo & Company | benefit plan administrator violation | 2015 | private lawsuit-federal | $7,420,000 |
| Wells Fargo Advisors | anti-money-laundering deficiencies | 2022 | SEC | $7,000,000 |
| Wells Fargo | wage and hour violation | 2011 | private lawsuit-federal | $6,900,000 |
| Wells Fargo | wage and hour violation | 2011 | private lawsuit-federal | $6,720,000 |
| Wells Fargo | wage and hour violation | 2011 | private lawsuit-federal | $6,660,000 |
| Wells Fargo | toxic securities abuses | 2012 | SEC | $6,500,000 |
| A.G. Edwards & Sons, Inc. | investor protection violation | 2000 | FINRA | $5,890,000 |
| Prudential Securities Incorporated | investor protection violation | 2000 | SEC | $5,880,000 |
| Wachovia Bank | wage and hour violation | 2004 | WHD | $5,798,744 |
| Wells Fargo Bank N.A., d/b/a Wells Fargo Dealer Services | consumer protection violation | 2017 | DOJ_RIGHTS | $5,400,000 |
| Wells Fargo Bank N.A | workplace whistleblower retaliation | 2017 | OSHA | $5,400,000 |
| Wells Fargo Bank, N.A. and Wells Fargo Insurance, Inc. | insurance violation | 2019 | CA-INS | $5,345,816 |
| Wells Fargo Advisors LLC | investor protection violation | 2018 | SEC | $5,108,441 |
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.
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