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Violation Tracker Individual Record

Company: Branch Banking & Trust Company (BB&T)
Current Parent Company: Truist Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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Penalty: $83,000,000
Year: 2016
Date: September 29, 2016
Offense Group: government-contracting-related offenses
Primary Offense: False Claims Act and related
Secondary Offense: toxic securities abuses
Mega-Scandal: Toxic Securities
Violation Description: Branch Banking & Trust Company (BB&T) agreed to pay the United States $83 million to resolve allegations that it violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development's Federal Housing Administration that did not meet applicable requirements.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Civil Division
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.