5 Biggest Corporate Fines in History

2. Bank of America (NYSE:BAC)

Bank of America is one of the biggest financial institutions in the entire world, and the second biggest in the United States. It operates in all 50 states and 40 other countries as well, even though it has attracted a lot of controversy over its role in the 2008 financial crisis which I discussed in the intro earlier. The Department of Justice ordered the company to pay $16.65 billion in 2014 over its role in the Great Recession, of which $7 billion was categorized as consumer relief while the remaining $9.65 billion was categorized as penalties to be paid to the federal government as well as the states. At the time, it was the largest corporate fine in history.

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