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 and select other federal and state agencies. 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: January 22, 2018

Disclaimer Notice

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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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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. Part 1005 (Regulation E of the Electronic Funds Transfer Act)
12 C.F.R. Part 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. Part 1005 (Regulation E of the Electronic Funds Transfer Act)
12 C.F.R. Part 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. Part 1005 (Regulation E of the Electronic Funds Transfer Act)
12 C.F.R. Part 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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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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645
Credit Suisse AG; Credit Suisse AG (New York Branch)
November 13, 2017
NYDFS
Consent Order (CMP & C&D)
$135,000,000
Anti-Trust/Market Related
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
3 NYCRR § 300.1 (Reporting of Crimes)
New York State Banking Law § 10 (Unsafe and Unsound Practices)
New York State Banking Law § 200-c (Maintenance of Books, Accounts and Records)
New York State Banking Law § 44 (Failure to Make Reports)
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650
The Bank of Tokyo-Mitsubishi UFJ, Ltd. Primary NY Branch; The Bank of Tokyo Mitsubishi UFH, Ltd. Secondary NY Branch; Federal Branches of The Bank of Tokyo-Mitsubishi UFJ, Ltd.
November 9, 2017
OCC
Consent Order
BSA/AML
Yes No No
LOOKBACK: Yes
REDRESS: No
RELEASE: No
Violations Cited:
Unspecified
DOWNLOAD
644
Lone Star National Bank
October 27, 2017
FinCEN
Consent Order (CMP)
$2,000,000
BSA/AML
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
12 C.F.R. § 21.21 (BSA Program)
31 C.F.R. § 1010.320 (SARs)
31 C.F.R. § 1010.610 (Due Diligence for Foreign Correspondent Accounts)
31 C.F.R. § 1020.210 (BSA Program)
31 U.S.C §§ 5318(a)(2) (AML Program)
31 U.S.C. § 5318(g) (SARs)
31 U.S.C. § 5318(h) (BSA Program)
31 U.S.C. § 5318(i) (Due Diligence for Foreign Correspondent Accounts)
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643
Mid America Bank & Trust Company
October 25, 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
DOWNLOAD
648
Citibank, N.A.
October 10, 2017
OCC
Consent Order (CMP)
$452,000
Other
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
12 C.F.R. § 22.3(a) (Requirement to Purchase Flood Insurance)
12 C.F.R. § 22.7(a) (Notice and Purchase of Flood Insurance Coverage)
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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638
HSBC Holdings PLC; HSBC North America Holdings, Inc.
September 29, 2017
FRB
Consent Order (CMP & C&D)
$175,296,000
Anti-Trust/Market Related
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
Unsafe and Unsound Practices
DOWNLOAD
680
Habib Bank Limited; Habib Bank Limited (New York Branch)
August 24, 2017
NYDFS
Consent Order
$225,000,000
BSA/AML & Sanctions
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)
New York State Banking Law § 44 (Unsafe and Unsound Practices)
Violation of Prior Order
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641
American Express Centurion Bank; American Express, FSB
August 23, 2017
CFPB
Consent Order (C&D)
Consumer Compliance
No Yes Yes
LOOKBACK: No
REDRESS: Yes
RELEASE: Yes
Violations Cited:
Equal Credit Opportunity Act, 15 U.S.C. §§ 1691 et seq.
Regulation B, 12 C.F.R. part 1002
DOWNLOAD
639
U.S. Bank, N.A.
August 16, 2017
OCC
Consent Order (CMP)
$183,920
Other
No No No
LOOKBACK: No
REDRESS: No
RELEASE: No
Violations Cited:
12 C.F.R. § 22.7(a) (Notice and Purchase of Flood Insurance Coverage)
National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, 42 U.S.C. §§ 4001, et seq.
DOWNLOAD
642
JPMorgan Chase Bank, N.A.
August 2, 2017
CFPB
Consent Order (CMP & C&D)
$4,600,000
Consumer Compliance
No No Yes
LOOKBACK: No
REDRESS: No
RELEASE: Yes
Violations Cited:
Consumer Financial Protection Act of 2010, 12 U.S.C. § 5536
Fair Credit Reporting Act, 15 U.S.C. §§ 1681 et seq.
Regulation V, 12 C.F.R. §§ 1022.42 a-c (Accuracy and Integrity Furnished Information)
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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.

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.