One who intends to leave others better off for his having existed.

5/6/15

Wells Fargo and Wachovia Settlements with Federal Regulators

2004-02 $9,700,000
Wachovia
Settling with the SEC & NASD for not honoring sales load discounts mandated for large purchases

http://www.forbes.com/2002/10/24/cx_aw_1024fine.html

http://web.archive.org/web/20140804224348/http://www.forbes.com/2002/10/24/cx_aw_1024fine.html

2004-03
$4,800,000
Wachovia
Settling accusations of overcharging large-scale investors in mutual funds

http://www.nytimes.com/2004/02/13/business/brokerage-firms-settle-overcharges.html

http://web.archive.org/web/20150424215105/http://www.nytimes.com/2004/02/13/business/brokerage-firms-settle-overcharges.html
2004-11
$37,000,000
Wachovia
Settling with SEC for violations of proxy disclosure & other reporting requirements connected with its 2001 merger

http://www.sec.gov/news/press/2004-152.htm

http://web.archive.org/web/20150318183333/http://www.sec.gov/news/press/2004-152.htm
2006-07
$25,000,000
Wachovia
Settling for failing to prevent conflicts of interest between its research & investment businesses

http://www.nytimes.com/2006/07/06/business/06bank.html?_r=0 http://web.archive.org/web/20150320175604/http://www.nytimes.com/2006/07/06/business/06bank.html?_r=0
2006-09
$2,250,000
Wachovia
Settling with NYSE for failing to review & save electronic records relating to its businesses

http://www.law360.com/articles/10053/nyse-fines-wall-street-giants-over-failures http://web.archive.org/web/20150425032543/http://www.law360.com/articles/10053/nyse-fines-wall-street-giants-over-failures
2008-04
$144,000,000
Wachovia
Settling accusations that the bank allowed telemarketers to use its accounts to steal millions

http://www.nytimes.com/2008/04/26/business/26banks.html?th=&adxnnl=1&emc=th&adxnnlx=1209304849-yun0i8HcekxKsJp5Iz9MUQ&_r=0 http://web.archive.org/web/20150424215252/http://www.nytimes.com/2008/04/26/business/26banks.html?th=&adxnnl=1&emc=th&adxnnlx=1209304849-yun0i8HcekxKsJp5Iz9MUQ&_r=0
2008-10
$200,000,000
Wachovia
Settling for profiting by ignoring fraudulent telemarketers who used the bank to help them steal from consumers

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=acz2GlPtoA.w http://web.archive.org/web/20150320115125/http://www.bloomberg.com/apps/news?pid=newsarchive&sid=acz2GlPtoA.w
2002-02
$161,412
Wells Fargo
Settling with SEC for improper supervision leading to improper customer switching in mutual funds

http://www.nytimes.com/2002/02/21/business/company-news-wells-fargo-settles-case-on-supervision-of-broker.html http://web.archive.org/web/20150424215751/http://www.nytimes.com/2002/02/21/business/company-news-wells-fargo-settles-case-on-supervision-of-broker.html
2005-08
$34,000,000
Wells Fargo
Settling charges it imposed improper credit card processing fees on about 96,000 California businesses over 4 yeras

http://articles.latimes.com/2005/aug/12/business/fi-wells12 http://web.archive.org/web/20150222013350/http://articles.latimes.com/2005/aug/12/business/fi-wells12
2005-12
$3,000,000
Wells Fargo
Settling with NASD for improper sales of Class B & Class C mutual fund shares http://www.finra.org/Newsroom/NewsReleases/2005/p015753 http://web.archive.org/web/20090213032637/http://www.finra.org/Newsroom/NewsReleases/2005/P015753
2007-06
$290,000
Wells Fargo
Settling with NASD for not disclose analyst's employment with covered company in research report

http://www.finra.org/Newsroom/NewsReleases/2007/P019344 http://web.archive.org/web/20100116080343/http://www.finra.org/Newsroom/NewsReleases/2007/P019344
2008-06
$4,046,786
Wells Fargo
Settling FCA violations for pre-foreclosure sales program fraud (FHA)

http://www.crowell.com/files/false-claims-act-fca-settlements-crowell-moring.pdf http://web.archive.org/web/20150317043301/http://www.crowell.com/files/false-claims-act-fca-settlements-crowell-moring.pdf
2009-02
$9,960,500
Wells Fargo
Settling with NASD for failures relating to trust & mutual fund sales.
$4.41m is fine

http://www.finra.org/Newsroom/NewsReleases/2009/P117836 http://web.archive.org/web/20100102004254/http://www.finra.org/Newsroom/NewsReleases/2009/P117836
2009-11
$1,400,000,000
Wells Fargo
Settling with CA Attorney General to buyback securities that were bought on misleading advice

http://oag.ca.gov/news/press-releases/brown-recovers-14-billion-wells-fargo-investors-landmark-settlement http://web.archive.org/web/20150318080127/http://oag.ca.gov/news/press-releases/brown-recovers-14-billion-wells-fargo-investors-landmark-settlement
2010-10
$796,000,000
Wells Fargo
Settling with 8 states over pick-a-day mortgages.
$772m in loan motifications

http://articles.philly.com/2010-10-07/business/24980033_1_borrowers-loan-modification-mortgage-payments http://web.archive.org/web/20150222014818/http://articles.philly.com/2010-10-07/business/24980033_1_borrowers-loan-modification-mortgage-payments
2010-12
$2,032,000,000
Wells Fargo
Settling with California Attorney General over pick-a-day mortgages.
$2b in loan motifications

http://money.cnn.com/2010/12/21/real_estate/wells_fargo_settlement/ http://web.archive.org/web/20150319190451/http://money.cnn.com/2010/12/21/real_estate/wells_fargo_settlement/
2011-05
$1,000,000
Wells Fargo
Settling with FINRA for delays in delivering prospectuses to more than 900,000 & reporting failures

http://www.finra.org/Newsroom/NewsReleases/2011/P123578 http://web.archive.org/web/20110509031919/http://www.finra.org/Newsroom/NewsReleases/2011/P123578
2011-05
$17,055,000
Wells Fargo
Settling with DoJ for not doing business with disabled people.
$55k in fine & $1m to charity

http://www.justice.gov/opa/pr/2011/May/11-crt-703.html http://web.archive.org/web/20150318090223/http://www.justice.gov/opa/pr/justice-department-reaches-americans-disabilities-act-settlement-wells-fargo
2011-05
$125,000,000
Wells Fargo
Settling claims of untrue statements in offering docs in mortgage-backed securities certificates litigation

http://www.bloomberg.com/news/2011-07-07/wells-fargo-to-pay-125-million-to-settle-mortgage-backed-securities-case.html http://web.archive.org/web/20120617061222/http://www.bloomberg.com/news/2011-07-07/wells-fargo-to-pay-125-million-to-settle-mortgage-backed-securities-case.html
2011-07
$85,000,000
Wells Fargo
Settling with FRB for false info on loan apps. & giving subprime loans to prime-eligible borrowers

http://www.federalreserve.gov/newsevents/press/enforcement/20110720a.htm http://web.archive.org/web/20150318051422/http://www.federalreserve.gov/newsevents/press/enforcement/20110720a.htm
2011-08
$590,000,000
Wells Fargo
Settling investor class action concerning bonds sold in October 2008

http://www.propublica.org/article/wells-fargo-picks-to-pay http://web.archive.org/web/20140103002230/http://www.propublica.org/article/wells-fargo-picks-to-pay

2011-12
$2,000,000
Wells Fargo
Settling with FINRA for sales of reverse convertibles & not providing breakpoints on UIT sales

http://www.finra.org/Newsroom/NewsReleases/2011/P125262 http://web.archive.org/web/20120106175022/http://www.finra.org/Newsroom/NewsReleases/2011/P125262
2012-01
$75,000,000
Wells Fargo
Settling claims of artificial inflation of Wachovia's common stock price due to misleading disclosures

http://www.reuters.com/article/2011/12/02/us-welsfargo-settlement-idUSTRE7B11CI20111202 http://web.archive.org/web/20120207073357/http://www.reuters.com/article/2011/12/02/us-welsfargo-settlement-idUSTRE7B11CI20111202
2012-03
$5,350,000,000
Wells Fargo
Settling charges of mortgage-servicing abuses

http://townhall.com/columnists/carlhorowitz/2012/02/25/states_banks_and_the_25_billion_mistake_how_not_to_prevent_mass_foreclosures/page/full http://web.archive.org/web/20150319211641/http://townhall.com/columnists/carlhorowitz/2012/02/25/states_banks_and_the_25_billion_mistake_how_not_to_prevent_mass_foreclosures/page/full
2012-05
$2,741,489
Wells Fargo
Settling with FINRA for selling leveraged & inverse ETFs without supervision

http://www.finra.org/Newsroom/NewsReleases/2012/P126123 http://web.archive.org/web/20120509151919/http://www.finra.org/Newsroom/NewsReleases/2012/P126123
2012-07
$175,000,000
Wells Fargo
Settling for violations of Fair Housing Act & Equal Credit Opportunity in its mortgage business

http://www.reuters.com/article/2012/07/12/us-wells-lending-settlement-idUSBRE86B0V220120712 http://web.archive.org/web/20130123010616/http://www.reuters.com/article/2012/07/12/us-wells-lending-settlement-idUSBRE86B0V220120712
2012-08
$6,500,000
Wells Fargo
Settlement for selling mortgage-backed securities w/o understanding or disclosing risks to investors

http://money.cnn.com/2012/08/14/news/companies/wells-fargo-sec/ http://web.archive.org/web/20150319190451/http://money.cnn.com/2012/08/14/news/companies/wells-fargo-sec/
2013-01
$850,000,000
Wells Fargo
Settling with OCC & Federal Reserve Board over deficient practices in mortgage loan servicing & foreclosure processing

http://www.federalreserve.gov/newsevents/press/bcreg/20130107a.htm http://web.archive.org/web/20150318051420/http://www.federalreserve.gov/newsevents/press/bcreg/20130107a.htm
2013-02
$1,966,000,000
Wells Fargo
Settling charges over foreclosure abuses related to "robo-signing" scandal

http://www.marketwatch.com/story/us-breaks-down-93-bln-robo-signing-settlement-2013-02-28 http://web.archive.org/web/20150320063458/http://www.marketwatch.com/story/us-breaks-down-93-bln-robo-signing-settlement-2013-02-28
2013-03
$9,650,000
Wells Fargo
Settling with New York State DFS over investigation of force-placed or lender-placed insurer

http://news.firedoglake.com/2012/08/14/standard-chartered-bank-settles-with-new-york-state-over-money-laundering-for-340-million/ http://web.archive.org/web/20140903171703/http://news.firedoglake.com/2012/08/14/standard-chartered-bank-settles-with-new-york-state-over-money-laundering-for-340-million/
2013-03
$19,500,000
Wells Fargo
Settling force-placed insurance class action with Florida homeowners

http://www.bigclassaction.com/settlement/wells-fargo-qbe-force-placed-insurance-class-action.php http://web.archive.org/web/20150317200506/http://www.bigclassaction.com/settlement/wells-fargo-qbe-force-placed-insurance-class-action.php
2013-05
$203,000,000
Wells Fargo
Settling charges of violating California's unfair competition law by deceiving its customers that debit card purchases

http://www.bigclassaction.com/settlement/wells-fargo-203m-overdraft-fees-class-action.php http://web.archive.org/web/20130627152421/http://www.bigclassaction.com/settlement/wells-fargo-203m-overdraft-fees-class-action.php
2013-06
$42,000,000
Wells Fargo
Settling charges it neglected maintenance & marketing of foreclosed homes in minority areas

http://www.law360.com/articles/447940/wells-fargo-pays-42m-to-settle-race-bias-housing-action http://web.archive.org/web/20150425033324/http://www.law360.com/articles/447940/wells-fargo-pays-42m-to-settle-race-bias-housing-action
2013-09
$335,000,000
Wells Fargo
Settling with Fannie Mae & Freddie Mac of opt-out claims in mortgage-backed certificates

http://www.bloomberg.com/news/2013-11-06/wells-fargo-pays-335-million-for-mortgage-bond-claims.html http://web.archive.org/web/20131112104556/http://www.bloomberg.com/news/2013-11-06/wells-fargo-pays-335-million-for-mortgage-bond-claims.html
2013-09
$869,000,000
Wells Fargo
Settling to resolve "substantially all" repurchase liabilities with Freddie Mac

http://www.bloomberg.com/news/2013-09-30/wells-fargo-agrees-to-869-million-settlement-with-freddie-mac.html http://web.archive.org/web/20131004072103/http://www.bloomberg.com/news/2013-09-30/wells-fargo-agrees-to-869-million-settlement-with-freddie-mac.html
2013-12
$591,000,000
Wells Fargo
Settling with Fannie Mae to resolve repurchase demands on loans originating before 2009

http://www.bloomberg.com/news/2013-12-30/wells-fargo-to-pay-fannie-mae-591-million-to-resolve-claims.html http://web.archive.org/web/20131231012107/http://www.bloomberg.com/news/2013-12-30/wells-fargo-to-pay-fannie-mae-591-million-to-resolve-claims.html
2014-09
$5,000,000
Wells Fargo
Settling with SEC for an employee trading on nonpublic information relating to its 2010 acquisition of Burger King

http://www.businessweek.com/news/2014-09-22/wells-fargo-to-pay-5-million-after-broker-inside-traded http://web.archive.org/web/20141005231735/http://www.businessweek.com/news/2014-09-22/wells-fargo-to-pay-5-million-after-broker-inside-traded
2014-12
$4,000,000
Wells Fargo
Fined by FINRA for research violations in connection with Toys "R" Us IPO

http://www.finra.org/Newsroom/NewsReleases/2014/P602059 http://web.archive.org/web/20150107172422/http://www.finra.org/Newsroom/NewsReleases/2014/P602059
2015-02
$4,000,000
Wells Fargo
Settling with New York DFS for violations on credit card accounts at former affiliate

http://www.dfs.ny.gov/about/pr2015/pr1502051.htm http://web.archive.org/web/20150318073624/http://www.dfs.ny.gov/about/pr2015/pr1502051.htm
2009-06
$40,000,000
Wells Fargo (Evergreen Investments)
Settling charges of overstating value of a mutual fund invested in mortgage-backed securities

http://www.sec.gov/news/press/2009/2009-130.htm http://web.archive.org/web/20150318183817/http://www.sec.gov/news/press/2009/2009-130.htm
2009-02
$7,000,000,000
Wells Fargo (Wachovia)
Settling with SEC by repurchasing securities it sold by falsely telling investors they were safe

http://www.sec.gov/news/press/2009/2009-17.htm http://web.archive.org/web/20150318183818/http://www.sec.gov/news/press/2009/2009-17.htm
2009-06
$1,400,000
Wells Fargo (Wachovia)
Settling with FINRA for prospectus delivery failures, related supervisory violations

http://www.finra.org/Newsroom/NewsReleases/2009/P119052 http://web.archive.org/web/20090706162215/http://www.finra.org/Newsroom/NewsReleases/2009/P119052
2010-03
$160,000,000
Wells Fargo (Wachovia)
Settling with U.S. DoJ for willfully failing to establish an anti-money laundering program

http://www.occ.gov/news-issuances/news-releases/2010/nr-occ-2010-30a.pdf http://web.archive.org/web/20150317044428/http://www.occ.gov/news-issuances/news-releases/2010/nr-occ-2010-30a.pdf
2011-04
$11,200,000
Wells Fargo (Wachovia)
Settling with SEC for misconduct in the sale of 2 CDOs to the Zuni Indian Tribe & 1 other investor

https://www.sec.gov/news/press/2011/2011-83.htm http://web.archive.org/web/20150318012225/https://www.sec.gov/news/press/2011/2011-83.htm
2011-12
$185,078,591
Wells Fargo (Wachovia)
Settling lawsuit over rigging the bidding of competition for business from state & local governments

http://www.philly.com/philly/blogs/inq-phillydeals/Feds-nail-Wachovia-for-ripping-off-towns.html http://web.archive.org/web/20150320151027/http://www.philly.com/philly/blogs/inq-phillydeals/Feds-nail-Wachovia-for-ripping-off-towns.html
2009-03
$1,100,000
Wells Fargo & First Clearing LLC
Settling with FINRA for failing to provide required notifications to customers

http://www.finra.org/Newsroom/NewsReleases/2009/P118173 http://web.archive.org/web/20090329071449/http://www.finra.org/Newsroom/NewsReleases/2009/P118173
1992-04
$55,000,000
Wells Fargo & First Interstate Bank of California
Settling lawsuit alleging they participated in a conspiracy to fix the interest rates on credit cards

http://articles.latimes.com/1992-04-04/business/fi-326_1_wells-fargo http://web.archive.org/web/20150222012159/http://articles.latimes.com/1992-04-04/business/fi-326_1_wells-fargo

http://charleshughsmith.blogspot.com/2015/05/no-wrongdoing-here-just-6300-corporate.html

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