U.S. and European regulators fined banks record amounts this year, imposing penalties and settlements of more than $43 billion as authorities work more closely across borders to clean up the financial sector. Banks in the United States and Europe are paying for misconduct that includes mis-selling U.S. mortgage bonds, rigging interest rates, and risky transactions such as JPMorgan's (JPM) "London Whale" trades. Fines and settlements paid to U.S. federal and state authorities have cost banks more than $40 billion this year, according to Reuters estimates, led by JPMorgan's record $13 billion payout last month to a number of regulators for mis-selling mortgage bonds.
via Business News - Yahoo Finance http://finance.yahoo.com/news/banks-pay-past-sins-u-104120771.html
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