OVERVIEW

Sullivan & Cromwell’s Banking Enforcement Actions Tracker—or BEAT—is a web-based tool that aggregates and displays data pertaining to significant enforcement actions from January 1, 2008 to the present against banking organizations by the federal banking agencies, the New York State Department of Financial Services, and select other federal and state agencies.  In addition, the BEAT displays data regarding significant civil and criminal actions taken by the Department of Justice against banking organizations since January 1, 2001.  The BEAT permits users to directly search and sort the actions based on key factors of interest and using search terms, and provides important summary information about each action, thus making unnecessary the labor-intensive manual searches and reviews that, until now, have been required to compile meaningful information about enforcement actions.

There are two versions of the BEAT: a limited version, which is publicly available, and a full version, which is available to clients of Sullivan & Cromwell and offers additional features as outlined below:



The BEAT’s development and broad availability demonstrate Sullivan & Cromwell’s ongoing commitment to adding value for our clients with banking regulatory needs.
 
Sullivan & Cromwell intends to regularly update the BEAT and welcomes feedback on the tool. Clients interested in access to the full version are encouraged to contact any Sullivan & Cromwell partner you work with.  

Last Updated: November 12, 2018

Disclaimer Notice

If you registered a BEAT account before January 1, 2018, please click “Forgot Your Password?” below and update your password.

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722
CapitalOne, N.A. and CapitalOne Bank (USA), N.A.
October 23, 2018
OCC
Consent Order (CMP)
$100,000,000
BSA/AML
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
12 C.F.R. § 21.11 (SARs)
12 C.F.R. § 21.21 (BSA Program)
12 U.S.C. § 1818(s) (BSA Program)
31 C.F.R. § 1010.410 (Financial Institution Records)
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721
Wells Fargo & Company
October 18, 2018
New York Attorney General
Settlement Agreement
$65,000,000
Other
No No No
LOOKBACK: No
REDRESS: No
RELEASE: No
Violations Cited:
Article 23-A of the General Business Law of the State of New York/Martin Act
New York State Executive Law § 63(12)
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720
Mashreqbank, PSC and Mashreqbank, PSC, New York Branch
October 10, 2018
NYDFS
Consent Order (CMP)
$40,000,000
BSA/AML
Yes No Yes
LOOKBACK: Yes
REDRESS: No
RELEASE: Yes
Violations Cited:
3 NYCRR § 116.2 (AML Program)
New York State Banking Law § 200-c (Maintenance of Books, Accounts and Records)
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718
JPMorgan Chase Bank, N.A.
October 5, 2018
OFAC
Settlement Agreement
$5,263,171
Sanctions
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
31 C.F.R. § 544 (Weapons of Mass Destruction Proliferators Sanctions Regulations)
Cuban Assets Control Regulations, 31 C.F.R. § 515
Iranian Transactions Regulations, 31 C.F.R. § 560
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719
JPMorgan Chase Bank, N.A.
October 5, 2018
OFAC
Finding of Violation
Sanctions
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
31 C.F.R. § 542 (Syrian Sanctions Regulations)
31 C.F.R. § 598 (Foreign Narcotics Kingpin Sanctions Regulations)
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717
Ciitbank N.A., Department Stores National Bank, and FDS Bank
September 24, 2018
DOJ (CIV)
Consent Order (CMP)
Consumer Compliance
Yes Yes Yes
LOOKBACK: Yes
REDRESS: Yes
RELEASE: Yes
Violations Cited:
Bankruptcy Rule 9011 (Signing of Papers)
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716
The Bank of New York Mellon
August 28, 2018
FRB
Order of Assessment of a Civil Monetary Payment
$16,000
Other
No No No
LOOKBACK: No
REDRESS: No
RELEASE: No
Violations Cited:
12 C.F.R. § 208.25 (Loans in Special Flood Hazard Areas)
National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, 42 U.S.C. § 4012a(f)(2)
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714
The Royal Bank of Scotland Group plc.
August 14, 2018
DOJ (CIV)
Settlement Agreement
$4,900,000,000
FIRREA/Mortgages
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
False Claims Act, 31 U.S.C. §§ 3729 et seq.
Financial Institutions Reform, Recovery, and Enforcement Act ("FIRREA"), 12 U.S.C. § 1833a (Civil Penalties)
Injunctions Against Fraud Act, 18 U.S.C. § 1345
Program Fraud Civil Remedies Act, 31 U.S.C. §§ 3801 et seq.
Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. §§ 1961 et seq.
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713
Citigroup Inc.
August 10, 2018
FRB
Order of Assessment of a Civil Monetary Payment
$8,600,000
Mortgages
Yes No Yes
LOOKBACK: Yes
REDRESS: No
RELEASE: Yes
Violations Cited:
Unsafe and Unsound Practices
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712
Wells Fargo Bank, N.A.
August 1, 2018
DOJ (Civ)
Settlement Agreement
$2,090,000,000
FIRREA/Mortgages
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
18 U.S.C. § 1014 (False Statements to Financial Institutions)
18 U.S.C. § 1341 (Mail Fraud)
18 U.S.C. § 1343 (Wire Fraud)
18 U.S.C. § 1344 (Financial Institutions Fraud).
Financial Institutions Reform, Recovery, and Enforcement Act ("FIRREA"), 12 U.S.C. § 1833a (Civil Penalties)
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711
TCF National Bank
July 20, 2018
CFPB
Consent Order (CMP & C&D)
$2,000,000
Consumer Compliance
Yes Yes Yes
LOOKBACK: Yes
REDRESS: Yes
RELEASE: Yes
Violations Cited:
12 C.F.R. § 1005.17 (Requirements for Overdraft Services)
12 U.S.C § 5536 (Prohibited Acts)
12 U.S.C. §§ 5531(d)(1) (Interfering with ability of a consumer to understand the terms of a financial product)
Electronic Fund Transfer Act, 15 U.S.C. §§ 1693 et seq.
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715
TCF National Bank
July 20, 2018
OCC
Consent Order (CMP & C&D)
$3,000,000
Consumer Compliance
Yes Yes Yes
LOOKBACK: Yes
REDRESS: Yes
RELEASE: Yes
Violations Cited:
15 U.S.C. § 45(a) (Unfair or Deceptive Acts and Practices/UDAP)
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683
Citibank, N.A.
June 28, 2018
CFPB
Consent Order (C&D)
Consumer Compliance
Yes Yes Yes
LOOKBACK: Yes
REDRESS: Yes
RELEASE: Yes
Violations Cited:
12 C.F.R. § 1026.59(a) (Reevaluation of rate increases)
12 C.F.R. § 1026.59(b) (Policies and procedures on the reevaluation of rate increases)
Truth in Lending Act, 15 U.S.C. §§ 1601 et seq.
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682
Deutsche Bank AG and Deutsche Bank AG (New York Branch)
June 20, 2018
NYDFS
Consent Order (CMP & C&D)
$205,000,000
Anti-Trust/Market Related
Yes No Yes
LOOKBACK: Yes
REDRESS: No
RELEASE: Yes
Violations Cited:
3 NYCRR § 300.1 (Reporting of Crimes)
New York State Banking Law § 200-c (Maintenance of Books, Accounts and Records)
New York State Banking Law § 44 (Unsafe and Unsound Practices)
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710
UBS AG, New York Branch; UBS AG, Stamford Branch; UBS AG, Miami Branch; Federal Branches of UBS AG, Zurich, Switzerland
May 31, 2018
OCC
Consent Order (C&D)
BSA/AML
No No No
LOOKBACK: No
REDRESS: No
RELEASE: No
Violations Cited:
12 C.F.R. § 21.11 (SARs)
12 C.F.R. § 21.21 (BSA Program)
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678
The Goldman Sachs Group, Inc.
May 1, 2018
FRB
Consent Order (CMP & C&D)
$54,750,000
Anti-Trust/Market Related
Yes No Yes
LOOKBACK: Yes
REDRESS: No
RELEASE: Yes
Violations Cited:
Unsafe and Unsound Practices
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679
The Goldman Sachs Group, Inc.
May 1, 2018
NYDFS
Consent Order
$54,750,000
Anti-Trust/Market Related
Yes No Yes
LOOKBACK: Yes
REDRESS: No
RELEASE: Yes
Violations Cited:
New York State Banking Law § 44 (Unsafe and Unsound Practices)
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681
Bank of China (New York Branch)
April 24, 2018
OCC
Consent Order (CMP & C&D)
$12,500,000
BSA/AML & Sanctions
Yes No Yes
LOOKBACK: Yes
REDRESS: No
RELEASE: Yes
Violations Cited:
12 C.F.R. § 21.11 (SARs)
12 C.F.R. § 21.21 (BSA Program)
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675
Wells Fargo Bank, N.A.
April 20, 2018
CFPB
Consent Order (CMP)
$1,000,000,000
Consumer Compliance
Yes Yes Yes
LOOKBACK: Yes
REDRESS: Yes
RELEASE: Yes
Violations Cited:
12 U.S.C. §§ 5531, 5536 (Unfair, Deceptive or Abusive Acts and Practices/UDAAP)
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676
Wells Fargo Bank, N.A.
April 20, 2018
OCC
Consent Order (CMP)
$500,000,000
Consumer Compliance
Yes Yes Yes
LOOKBACK: Yes
REDRESS: Yes
RELEASE: Yes
Violations Cited:
15 U.S.C. § 45(a) (Unfair or Deceptive Acts and Practices/UDAP)
Unsafe and Unsound Practices
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673
Nationstar Mortgage LLC
April 11, 2018
NYDFS
Consent Order (CMP)
$5,000,000
Consumer Compliance
Yes Yes Yes
LOOKBACK: Yes
REDRESS: Yes
RELEASE: Yes
Violations Cited:
New York Real Property Action and Proceedings Law Section 1306 (Filings with Superintendent)
New York State Banking Law Article 12-D (Licensed Mortgage Brokers and Bankers)
New York State Banking Law § 593 (License Provisions of Mortgage Brokers and Bankers)
New York State Banking Law § 595-a(1)(c) (Regulation of Mortgage Brokers and Bankers)
Superintendent's Regulations § 38.7 (Prohibited Advertising Conduct of Mortgage Brokers and Bankers)
Superintendent's Regulations § 410.7 (Books, records, and annual reports of Mortgage Brokers and Bankers)
Superintendent's Regulations § 419 (Servicing Mortgage Loans)
Superintendent's Regulations § 419.10 (Mortgage Servicer Fee Regulations)
Superintendent's Regulations § 419.12 (Quarterly Reporting of Mortgage Servicers)
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671
Freedom Financial Asset Management, LLC
March 28, 2018
FDIC
Consent Order (CMP)
$493,500
Consumer Compliance
Yes Yes No
LOOKBACK: Yes
REDRESS: Yes
RELEASE: No
Violations Cited:
12 C.F.R. § 1005 (Regulation E of the Electronic Funds Transfer Act)
12 C.F.R. § 1026 (Regulation Z of the Truth in Lending Act)
15 U.S.C. § 45(a) (Unfair or Deceptive Acts and Practices/UDAP)
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672
Cross River Bank
March 28, 2018
FDIC
Consent Order (CMP)
$641,750
Consumer Compliance
Yes Yes No
LOOKBACK: Yes
REDRESS: Yes
RELEASE: No
Violations Cited:
12 C.F.R. § 1005 (Regulation E of the Electronic Funds Transfer Act)
12 C.F.R. § 1026 (Regulation Z of the Truth in Lending Act)
15 U.S.C. § 45(a) (Unfair or Deceptive Acts and Practices/UDAP)
Unsafe and Unsound Practices
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677
Barclays Capital, Inc., Barclays Group US Inc., Barclays US LLC, Barclays Bank PLC, Barclays PLC
March 28, 2018
DOJ (Civ)
Settlement Agreement
$2,000,000,000
FIRREA/Mortgages
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
Unspecified
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670
Industrial and Commercial Bank of China Ltd. (New York Branch)
March 12, 2018
FRB
Consent Order (C&D)
BSA/AML & Sanctions
Yes No No
LOOKBACK: Yes
REDRESS: No
RELEASE: No
Violations Cited:
12 C.F.R. § 211.24(f) (BSA Program)
12 C.F.R. § 211.24(j) (BSA Program)
31 C.F.R. Chapter X (FinCEN Regulations)
Bank Secrecy Act, 31 U.S.C. §§ 5311 et seq.
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669
The Bancorp Bank
March 7, 2018
FDIC
Consent Order (CMP)
$2,000,000
Consumer Compliance
Yes Yes No
LOOKBACK: Yes
REDRESS: Yes
RELEASE: No
Violations Cited:
12 C.F.R. § 1005 (Regulation E of the Electronic Funds Transfer Act)
12 C.F.R. § 1030 (Regulation DD of the Truth in Savings Act)
15 U.S.C. § 45(a) (Unfair or Deceptive Acts and Practices/UDAP)
Electronic Fund Transfer Act, 15 U.S.C. §§ 1693 et seq.
Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001
Truth in Savings Act, 12 U.S.C. §§ 3201 et seq.
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667
U.S. Bank, N.A.
February 15, 2018
FinCEN
Consent Order (CMP)
$185,000,000
BSA/AML & Sanctions
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
31 C.F.R. § 1010.311 (CTRs)
31 C.F.R. § 1010.313 (Aggregation of CTRs)
31 C.F.R. § 1020.210 (BSA Program)
31 C.F.R. § 1020.320 (SARs)
31 U.S.C §§ 5318(a)(2) (AML Program)
31 U.S.C. § 5313 (CTRs)
31 U.S.C. § 5318(g) (SARs)
31 U.S.C. § 5318(h) (BSA Program)
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665
U.S. Bancorp; USB Americas Holdings Company
February 14, 2018
FRB
Consent Order (CMP & C&D)
$15,000,000
BSA/AML & Sanctions
Yes No Yes
LOOKBACK: Yes
REDRESS: No
RELEASE: Yes
Violations Cited:
12 C.F.R. § 225.4(a) (Bank Holding Company Policy and Operations)
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666
U.S. Bank, N.A.
February 13, 2018
OCC
Consent Order (CMP)
$75,000,000
BSA/AML & Sanctions
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
12 C.F.R. § 21.11 (SARs)
12 C.F.R. § 21.21 (BSA Program)
12 U.S.C. § 1818(s) (BSA Program)
31 C.F.R. § 1010.610 (Due Diligence for Foreign Correspondent Accounts)
31 U.S.C. § 5318(i) (Due Diligence for Foreign Correspondent Accounts)
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668
U.S. Bancorp
February 12, 2018
DOJ (Crim)
Deferred Prosecution Agreement
$528,000,000
BSA/AML & Sanctions
Yes No Yes
LOOKBACK: Yes
REDRESS: No
RELEASE: Yes
Violations Cited:
31 C.F.R. § 1020.210 (BSA Program)
31 C.F.R. § 1020.320 (SARs)
31 U.S.C. § 5318(g) (SARs)
31 U.S.C. § 5318(h) (BSA Program)
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664
Rabobank, N.A.
February 7, 2018
DOJ (Crim)
Plea Agreement
$369,201,259
BSA/AML
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
18 U.S.C. § 1517 (Obstructing Examination of Financial Institution)
18 U.S.C. § 371 (General Conspiracy)
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663
Rabobank, N.A.
February 6, 2018
OCC
Consent Order (CMP)
$50,000,000
BSA/AML
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
12 C.F.R. § 21.11 (SARs)
12 C.F.R. § 21.21 (BSA Program)
12 U.S.C. § 1818(s) (BSA Program)
12 U.S.C. § 481 (Examination of Financial Institutions)
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661
BNP Paribas USA, Inc.
February 2, 2018
DOJ (Crim)
Plea Agreement
$90,000,000
Anti-Trust/Market Related
Yes No Yes
LOOKBACK: Yes
REDRESS: No
RELEASE: Yes
Violations Cited:
15 U.S.C. § 1 (Combinations in Restraint of Trade)
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662
Wells Fargo & Company
February 2, 2018
FRB
Consent Order (C&D)
Consumer Compliance
Yes No No
LOOKBACK: Yes
REDRESS: No
RELEASE: No
Violations Cited:
12 C.F.R. § 225.4(a) (Bank Holding Company Policy and Operations)
12 C.F.R. § 252.33(a)(2) (Adequate Risk-Management Framework)
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659
Mega International Commercial Bank Co., Ltd; Mega International Commerical Bank Co. Ltd. (New York Branch); Mega International Commerical Bank Co. Ltd. (Chicago Branch); Mega International Commerical Bank Co. Ltd. (Silicon Valley Branch)
January 17, 2018
FRB
Consent Order (CMP & C&D)
$29,000,000
BSA/AML & Sanctions
Yes No Yes
LOOKBACK: Yes
REDRESS: No
RELEASE: Yes
Violations Cited:
12 C.F.R. § 211.24(f) (BSA Program)
12 C.F.R. § 211.24(j) (BSA Program)
31 C.F.R. Chapter X (FinCEN Regulations)
Bank Secrecy Act, 31 U.S.C. §§ 5311 et seq.
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660
HSBC Holdings PLC
January 17, 2018
DOJ (Crim)
Deferred Prosecution Agreement
$63,104,000
Anti-Trust/Market Related
No Yes Yes
LOOKBACK: No
REDRESS: Yes
RELEASE: Yes
Violations Cited:
18 U.S.C. § 1343 (Wire Fraud)
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653
U.S. Bancorp
January 12, 2018
FRB
Consent Order (CMP)
$4,400,000
Mortgages
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
Unspecified
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654
The PNC Financial Services Group, Inc.
January 12, 2018
FRB
Consent Order (CMP)
$3,500,000
Mortgages
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
Unspecified
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655
Morgan Stanley
January 12, 2018
FRB
Consent Order (CMP)
$8,000,000
Mortgages
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
Unspecified
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656
The Goldman Sachs Group, Inc. and Goldman Bachs Bank USA
January 12, 2018
FRB
Consent Order (CMP)
$14,000,000
Mortgages
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
Unspecified
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657
IMB HoldCo LLC
January 12, 2018
FRB
Consent Order (CMP)
$5,200,000
Mortgages
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
Unspecified
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658
Goldman Sachs Bank USA
January 12, 2018
FRB
Consent Order (CMP)
$90,000
Other
No No No
LOOKBACK: No
REDRESS: No
RELEASE: No
Violations Cited:
12 C.F.R. § 208.25 (Loans in Special Flood Hazard Areas)
National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, 42 U.S.C. §§ 4001, et seq.
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652
Western Union Financial Services, Inc.
January 4, 2018
NYDFS
Consent Order (CMP)
$60,000,000
BSA/AML
Yes No No
LOOKBACK: Yes
REDRESS: No
RELEASE: No
Violations Cited:
3 NYCRR § 406.3(g) (Conduct of Money Transmitters)
3 NYCRR § 417.2 (AML Program for Licensed Check Cashers and Money Transmitters)
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651
Citibank, N.A.
December 27, 2017
OCC
Consent Order (CMP)
$70,000,000
BSA/AML
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
12 C.F.R. § 21.11 (SARs)
12 C.F.R. § 21.21 (BSA Program)
12 U.S.C. § 1818(s) (BSA Program)
31 C.F.R. § 1010.610 (Due Diligence for Foreign Correspondent Accounts)
31 U.S.C. § 5318(i) (Due Diligence for Foreign Correspondent Accounts)
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689
Nonghyup Bank and Nonghyup Bank (New York Branch)
December 21, 2017
NYDFS
Consent Order (CMP)
$11,000,000
BSA/AML
Yes No Yes
LOOKBACK: Yes
REDRESS: No
RELEASE: Yes
Violations Cited:
3 NYCRR § 116.2 (AML Program)
New York State Banking Law § 200-c (Maintenance of Books, Accounts and Records)
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649
Societe Generale S.A.
December 14, 2017
FRB
Consent Order (C&D)
BSA/AML
No No No
LOOKBACK: No
REDRESS: No
RELEASE: No
Violations Cited:
12 C.F.R. § 211.24(f) (BSA Program)
12 C.F.R. § 211.24(j) (BSA Program)
31 C.F.R. Chapter X (FinCEN Regulations)
Bank Secrecy Act, 31 U.S.C. §§ 5311 et seq.
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647
Peoples Bank
November 28, 2017
FRB
Consent Order (C&D)
Consumer Compliance
No Yes Yes
LOOKBACK: No
REDRESS: Yes
RELEASE: Yes
Violations Cited:
15 U.S.C. § 45(a) (Unfair or Deceptive Acts and Practices/UDAP)
Unsafe and Unsound Practices
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646
Citibank, N.A.
November 21, 2017
CFPB
Consent Order (CMP & C&D)
$2,750,000
Consumer Compliance
Yes Yes Yes
LOOKBACK: Yes
REDRESS: Yes
RELEASE: Yes
Violations Cited:
12 U.S.C. §§ 5531, 5536 (Unfair, Deceptive or Abusive Acts and Practices/UDAAP)
Fair Credit Reporting Act, 15 U.S.C. §§ 1681 et seq.
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For this purpose, "significant" is defined as (1) an action against a Global Systemically Important Bank or (2) that involves at least one of the following: (a) penalties of $1 million or more; (b) substantial consumer relief requirements; or (c) coordinated or parallel actions by a federal banking agency and at least one other agency.

Prior to October 2011 The New York Department of Financial Services was the New York State Banking Department.

Disclaimer Notice: Banking Enforcement Actions Tracker is an informational product provided by Sullivan & Cromwell LLP and should not be regarded as a substitute for legal advice.