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This case is a $58.75 million agreement with Wachovia Bank N.A. and Wells Fargo Bank, N.A. as part of an ongoing nationwide investigation of alleged anticompetitive and fraudulent conduct in the municipal bond derivatives industry.

Wachovia has agreed to pay $54.5 million in restitution to affected state agencies, municipalities, school districts and not-for-profit entities nationwide that entered into municipal derivative contracts with Wachovia between 1998 and 2004. Wachovia also agreed to pay a $1.25 million civil penalty and $3 million to the participating states for costs of the investigation. The distribution of the agreement dollars has not been determined.

Press Release

Wachovia Filings


This list includes only significant filings and is not intended to be a complete record of the matter.