Banks fined record $10B in 2012 - KATV - Breaking News, Weather and Razorback Sports

Banks fined record $10B in 2012

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(CNN) - Banks racked up a record-breaking $10.7 billion in fines in 2012 and that only includes what the banks paid to U.S. and state authorities, not the billions more these global banks also agreed to pay European regulators.

Slightly more than half of the fines were related to improper mortgage practices but the total also includes the more than $1.5 billion fine UBS and Barclays paid the U.S. for manipulating a key benchmark for global interest rates.

HSBC, ING and Standard Chartered forked over more than $3 billion in fines over money laundering violations.