20 global banks have paid $235bn in fines since the 2008 financial crisis

Twenty of the world’s biggest banks have paid more than $235bn (£151.71bn) in fines and compensation in the last seven years for breaching a variety of financial regulations, according to Reuters.

The financial institutions have been fined for misdeeds ranging from manipulation of currency and interest rate markets and compensating customers who were wrongly sold mortgages in the US or insurance products in Britain.

The main offenders were Bank of America, which faced by far the largest levy of around $80bn since 2008, and JP Morgan, paying up to $20m   

In total, the banks were fined $141bn for mis-selling US mortgages and $44bn in compensation to UK customers.      

Read more http://www.ibtimes.co.uk/20-global-banks-have-paid-235bn-fines-since-2008-financial-crisis-1502794

 

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