Banks paid record $10.7B in fines in 2012
Updated: Friday, December 28 2012, 08:22 PM EST
(NEWSCHANNEL 3) - Banks around the world paid out a record breaking $10.7 billion in fines in 2012.
That's just the fines paid to the U.S. government and states.
It doesn't include the fines they had to pay in Europe.
Just over half those fines were related to improper mortgage practices.
HSBC and ING paid some of the biggest fines--$3 billion over money laundering violations.