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Violation Tracker Individual Record

Company: State Street Corporation
Current Parent Company: State Street Corp.
Penalty: $115,000,000
Year: 2021
Date: May 13, 2021
Offense Group: competition-related offenses
Primary Offense: fraud
Violation Description: Massachusetts-based global financial services company State Street Corporation entered into a deferred prosecution agreement and agreed to pay a $115 million criminal penalty to resolve charges that it engaged in a scheme to defraud a number of the bank's clients by secretly overcharging for expenses related to the bank's custody of client assets.
Level of Government: federal
Action Type: agency action
Agency: U.S. Attorney-District of Massachusetts
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
HQ Country of Current Parent: USA
HQ State of Current Parent: Massachusetts
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.