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New York - US authorities hit Bank of America with a record $16.65bn fine Thursday for selling billions of dollars in high-risk mortgage securities disguised as solid investments ahead of the 2008 financial crisis.
Here is list of the earlier banking fines since the crisis began:
March 2012: Ally Financial, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo agree a joint $25bn settlement over mortgage loan servicing and foreclosure abuses.
November 2013: JPMorgan Chase agrees to a $13bn penalty to settle charges it misled investors on mortgage-linked securities.
February 2013: 13 mortgage servicing companies including Bank of America, Citigroup, JPMorgan Chase, MetLife Bank and Wells Fargo are fined $9.3bn over foreclosure abuse.
March 2014: Bank of America agrees a separate $9.3bn settlement over its sale of toxic mortgage securities to housing finance agencies Fannie Mae and Freddie Mac, which had to be rescue by the government in the crisis.
June 2014: French bank BNP Paribas is fined $8.9bn for violating US sanctions in Iran, Sudan and other countries.
July 2014: Citigroup settles charges over selling risky mortgage securities to investors as high quality for $7bn.
