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Violation Tracker Individual Record

Company: WestLB AG
Penalty: $3,000,000
Year: 2003
Date: August 27, 2003
Offense Group: financial offenses
Primary Offense: banking violation
Violation Description: The foreign bank, without admitting to any allegations, consented to the issuance of the Combined Order for violations of anti-tying restrictions in section 106 of the Bank Holding Company Act Amendments of 1970 and related unsafe and unsound banking practices. The Combined Order resolved allegations that in 2001, WestLB conditioned the availability or price of credit to corporate customers on the corporate customer's appointment of WestLB as an underwriter for issuances of debt securities.
Level of Government: federal
Action Type: agency action
Agency: Federal Reserve
Civil or Criminal Case: civil
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.