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Diagram 9: Total Fines (11)

The FT valued bank fines at $150 billion whilst the BCG report said fines
totalled $321 billion.

The BCG number, however, included penalties for crimes such as
money laundering, terrorist financing, benchmark interest rate rigging
and violating US sanction law. According to this calculation, European
banks had paid back $118 billion, compared to $204 billion by US
institutions.

Of all banks penalized since 2008, Bank of America (BofA) was hit the
hardest with fines of $56 billion as Diagram 9 shows.

In 2015, the International Monetary Fund (IMF) analyzed costs of the
state bailouts of banks calculating the extra debt taken on by
governments and at how much banks had paid back. With the exception
of the US, no country had recouped the full amount of taxpayers' money.
In fact, the U.S. has recovered more than the total cumulative impact of
the bailout and this figure is still growing (8).