2012-12-29cnn.com

From laundering money for Iran, to manipulating interest rates paid by consumers and businesses, to improperly foreclosing on homeowners, misdeeds cost the banks a record of more than $10.7 billion in fines this year.

When UBS agreed earlier this month to pay U.S. authorities $1.2 billion for manipulating Libor, it capped a record year for bank fines. And the total includes only what the banks paid to U.S. and state authorities, not billions more these global banks also agreed to pay European regulators.


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