The Banksters

Discover, Capital One and HSBC agreed to pay a total of $2.235 million to a consumer-protection fund in settlement of allegations they deceptively marketed payment-protection plans and other add-on products. For more info visit https://web.archive.org/web/20161230061424/http://ago.mo.gov/home/news-archives/2015-news-archives/ag-koster-negotiates-settlements-on-behalf-of-missouri-consumers-Deceived/Defrauded-on-credit-card-payment-protection-plans

The U.S. Department of the Treasury's Office of Foreign Assets Control announced a $271,815 settlement with Navigators Insurance Company to settle potential civil liability for 48 apparent violations of the Foreign Assets Control Regulations. For more info visit https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20150806.aspx

Dain Rauscher Incorporated agreed to pay nearly $13 million to settle allegations arising out of the sec's investigation into the practice in municipal bond transactions known as yield burning. For more info visit https://www.sec.gov/litigation/litreleases/lr16505.htm

Risk management deficiences For more info visit https://www.occ.gov/static/enforcement-actions/ea2020-067.pdf

Fair House Act violations For more info visit https://www.occ.gov/static/enforcement-actions/ea2021-042.pdf

FINRA ordered Oppenheimer & Co. Inc. To pay more than $3.8 million in restitution to customers who incurred potentially excessive sales charges caused by early rollovers of Unit Investment Trusts (uits). FINRA also fined the firm $800,000 for failing to reasonably supervise early UIT rollovers. For more info visit https://www.finra.org/media-center/newsreleases/2019/finra-orders-oppenheimer-co-inc-pay-38-million-restitution-customers

The Consumer Financial Protection Bureau and the Maryland Attorney General took action against Wells Fargo and JP Morgan Chase for what was said to be an illegal marketing-services-kickback scheme they participated in with Genuine Title, a now-defunct title company. The proposed consent orders, filed in federal court, would require $24 million in civil penalties from Wells Fargo, $600,000 in civil penalties from JP Morgan Chase, and $11.1 million in redress to consumers whose loans were involved in this scheme. For more info visit http://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-against-wells-fargo-and-JP Morgan-chase-for-illegal-mortgage-kickbacks/

Citigroup agreed to pay $10.5 million in penalties to settle two enforcement actions involving its books and records, internal accounting controls, and trader supervision. The charges stemmed from $81 million of losses due to trader mismarking and unauthorized proprietary trading and $475 million of losses due to fraudulently-induced loans made by a Mexican subsidiary. For more info visit https://www.sec.gov/news/press-release/2018-155-0

Household Finance agreed to pay $484 million to settle multistate litigation alleging that its mortgage business misrepresented terms to borrowers and withheld information with the intent to deceive important information to them. For more info visit https://www.oag.ca.gov/news/press-releases/attorney-general-lockyer-announces-record-settlement-consumer-protection-case

Merrill Lynch agreed to pay a $150,000 fine and $250,000 for investor education and staff training, in settlement of allegations it failed to maintain accurate records and failed to properly supervise the activity of its agents. For more info visit https://portal.ct.gov/-/media/DOB/Enforcement/Securities/2020-SBID/Merrill-Lynch-June-2020-Consent-Order.pdf

The Financial Industry Regulatory Authority fined Fidelity Brokerage Services LLC $500,000 and ordered the firm to pay nearly $530,000 in restitution for failing to detect or prevent the theft of more than $1 million from nine of its customers, eight of whom were senior citizens. For more info visit https://www.finra.org/media-center/news-releases/2015/finra-sanctions-fidelity-brokerage-services-llc-1-million-supervisory

Barclays agreed to terminate eight employees and pay $485 million to the Department of Financial Services in connection with an alleged scheme to manipulate spot trading in the foreign exchange market. At the same time, Barclays paid $710 million to resolve related federal criminal charges; For more info visit https://www.dfs.ny.gov/reports_and_publications/press_releases/pr1505201

American International Group, Inc. Agreed to pay a $100 million penalty and $700 million in disgorgement to settle allegations of securities fraud. For more info visit https://www.sec.gov/news/press/2006-19.htm

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. For more info visit https://www.justice.gov/opa/pr/wachovia-bank-na-admits-anticompetitive-conduct-former-employees-municipal-bond-investments

NASD announced a total of $7 million in fines against four broker-dealers affiliated with ING America Insurance Holdings, Inc. (ING) In connection with the receipt of directed brokerage in exchange for preferential treatment for certain mutual fund companies. For more info visit https://www.investmentexecutive.com/news/from-the-regulators/nasd-fines-four-ing-broker-dealers-us7-million/

In 2019 The Securities and Exchange Commission brought a successful enforcement action against Wedbush Securities for Securities Violations and imposed fines and penalties in the amount of $1,852,540 . For more info visit https://www.sec.gov/news/press-release/2019-200 .

In 2019 The Securities and Exchange Commission brought a successful enforcement action against Truist Financial for Securities Violations and imposed fines and penalties in the amount of $5,709,753 . For more info visit https://www.sec.gov/news/press-release/2019-26 .

To resolve market timing allegations brought by the New York Attorney General, MFS agreed to pay $175 million in restitution to injured investors, cut its management fees by an estimated $125 million over the next five years and pay a penalty of $50 million. For more info visit https://web.archive.org/web/20101119022149/http://www.ag.ny.gov/media_center/2004/feb/feb05a_04.html