Banks across the world have paid about 321 billion dollars in fines since the 2007-2008 financial crisis as regulators stepped up scrutiny, according to a note by the Boston Consulting Group (BCG). Almost 10 years since the financial crisis , the banking industry has not completely recovered, BCG said in an industry report. North American banks accounted for nearly 63 per cent of the total fines, or about 204 billion dollars, during 2009-2016, the consultancy firm said. While US regulators have been more effective in imposing penalties and recovering fines from the banks, their counterparts in Europe and Asia are likely to step up pace, according to the BCG report.
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