Reuters
Banking misconduct bill
Twenty of the world’s biggest banks have paid more than $235 billion in fines and compensation in the last seven years for a litany of misdeeds, ranging from fines for manipulation of currency and interest rate markets to compensation to customers who were wrongly sold mortgages in the United States or insurance products in Britain. The scale of the payouts is roughly equivalent to the annual economy of Greece or Portugal.
Name
|
U.S. Mortgage
|
UK custome redress
|
Sanction
/AML
|
FX
|
Libor/int rates
|
Tax avoidance
|
London Whale
|
Other US litigation
|
---|---|---|---|---|---|---|---|---|
Bank of America |
$75,512
|
$455
|
$3,854
|
|||||
JPMorgan |
$30,685
|
$1,904
|
$108
|
$1,120
|
$5,102
|
|||
Citigroup |
$12,264
|
$2,285
|
$2,445
|
|||||
Wells Fargo |
$9,361
|
$878
|
||||||
Morgan Stanley |
$4,452
|
|||||||
Goldman |
$2,040
|
|||||||
Deutsche Bank |
$1,925
|
$3,500
|
||||||
UBS |
$1,385
|
$1,141
|
$1,700
|
$780
|
||||
SunTrust |
$1,288
|
|||||||
Credit Suisse |
$978
|
$536
|
$2,600
|
|||||
HSBC |
$799
|
$5,263
|
$1,920
|
$618
|
||||
Barclays |
$280
|
$10,500
|
$298
|
$2,318
|
$628
|
|||
RBS |
$233
|
$8,231
|
$1,303
|
$1,143
|
||||
Socgen |
$122
|
$603
|
||||||
Bank of Tokyo |
$565
|
|||||||
BNP Paribas |
$8,900
|
|||||||
ING |
$619
|
|||||||
Lloyds |
$19,686
|
$350
|
$370
|
|||||
Rabobank |
$1,066
|
|||||||
StanChart |
$997
|
Notes: The total includes payouts by banks of over $100 million since 2008, as at May 21, 2015.
U.S. Mortgages based on estimates by KBW analysts and includes settlements with U.S. authorities and private parties for mortgage fraud, foreclosure malpractice, discrimination and other matters.
Other U.S. litigation based on estimates by KBW analysts and includes settlements related to misleading investors, illegal overdraft or credit card fees, energy market manipulation, securities lending and debt collection malpractice. Libor includes settlements on all interest rate products, including Libor, Euribor and ISDAfix. UK customer redress includes banks’ provisions for payment protection insurance and interest rate hedging compensation. Sanctions includes violations of U.S. sanctions and anti money laundering rules. Sources: filings by regulators and other government authorities, data from banks, and estimates of US litigation costs by analysts at KBW.
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