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Violation Tracker Individual Record

Company: Wachovia Bank N.A.
Current Parent Company: Wells Fargo
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $148,000,000
Year: 2011
Date: December 8, 2011
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Mega-Scandal: Price Fixing
Violation Description: Wachovia Bank N.A., which is now known as Wells Fargo Bank N.A., entered into an agreement with the Department of Justice to resolve the company's role in anticompetitive activity in the municipal bond investments market and has agreed to pay a total of $148 million in restitution, penalties and disgorgement to federal and state agencies.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Antitrust Division
Civil or Criminal Case: civil and criminal
Prosecution Agreement: non-prosecution agreement
HQ Country of Current Parent: USA
HQ State of Current Parent: California
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.