Source site http://projects.propublica.org/tables/financial_settlements Note. The date!

Ponying Up: How Much Have Big Banks Been Docked for the Financial Crisis? By Cora Currier, ProPublica, March 6, 2010, 1 p.m. Updated March 27, 2012 Nearly four years after the financial crisis, settlements with the big players on Wall Street keep coming out, one after the other. It can be hard to keep track of it all. So whos been hit, with wha t, and for how much in total? We put together a chart of notable settlements reached between big banks and the government namely, the SEC and the Department of Justiceover charges stemming from the crisis. In the case of the SEC settlements we list here, the firms neither admitted nor denied the charges when agreeing to the terms of the settlement. (The SECs habit of letting banks sidestep the question of culpability has been widely criticized.) Overall, the SEC says it has brought in almost $2 billion in penalties as well as money for investors from settlements related to the crisis, and the Department of Justice lists dozens of criminal cases it has brought against smaller players. And the investigating isnt over yet. The SEC recently sent notices of possible charges to JP Morgan Chase, Goldman Sachs, and Wells Fargo, and the DOJ reportedly has issued subpoenas to eleven financial institutions related to mortgage securities. Tweet

Date Ally Financial (formerly GMAC)

Agency

Settlement Amount $309,628,425

Details

Where Did the Money Go?

Feb. 9, 2012

DOJ and States' Attorney Generals

Part of an agreement between the DOJ, 49 states, and five of the country's biggest banks over robo-signing and other abuses related to mortgage servicing. Part of the settlement comprised fines to state and federal governments, $309,628,425 while the rest will go to programs aimed at helping homeowners refinance or write-down their loans. A small portion will go to direct payments to homeowners. Read the government's complaint. Read Ally's consent judgment. $2,450,000

$110 million in penalties to federal and state governments. $200 million in homeowner relief programs.

American Home Mortgage April 28, SEC

$2,450,000 Three executives at

Penalties and

Date 2009

Agency

Settlement Amount

Details American Home Mortgage, which filed for bankruptcy in 2007, were charged with misleading auditors and investors about the state of the company's finances and the bad loans they had taken on. The former CEO, Michael Strauss, settled for $2.45 million and a 5-year ban on serving as officer of a public company. Read the SEC's complaint.

Where Did the Money Go? disgorgement.

Bank of America

$12,106,615,075 Bank of America was charged with misleading investors about the financial troubles -- and extraordinary bonuses -$150,000,000 at Merrill Lynch at the time that Bank of America acquired the company. Read the judge's opinion on the settlement. Part of the big mortgageservicing abuse settlement. Included in Bank of America's total is a $1 billion settlement $11,956,615,075 with the Federal Housing Authority to settle charges that it sent them shoddy loans to insure. Read Bank of America's consent judgment. $1,000,000 Two Bear Stearns execs, Ralph Cioffi and Matthew Tannin, were hit with civil charges alleging that they committed fraud by negligence before Bear Stearns crashed over bad $1,000,000 mortgage-related investments in 2008. Both executives will be banned from the securities industry for a few years. Cioffi and Tannin were cleared in 2009 of criminal charges

Feb. 4, 2010

SEC

Distributed to affected shareholders.

Feb. 9, 2012

DOJ and States' Attorney Generals

$2.38 billion in penalties to federal and state governments, plus $1 billion to the FHA. $8.57 billion in homeowner relief programs.

Bear Stearns

Feb. 13, 2012

SEC

Penalty to the Treasury. The judge in charge of approving the settlement said that he considered the fine "chump change," but is inclined to approve it.

Date

Agency

Settlement Amount

Details related to Bear Stearn's crash.

Where Did the Money Go?

Charles Schwab

$118,000,000 Charles Schwab was charged with misrepresenting the riskiness of one of its mutual funds, which was Distributed to affected $118,000,000 heavy on mortgageinvestors. backed securities and other high-risk assets. Read the SEC's complaint. $491,000,000 Citigroup was charged with underreporting its exposure to subprime mortgage assets by billions of dollars. Two Penalties and $75,000,000 executives were also disgorgement. fined $100,000 and $80,000, respectively. Read the SEC's order against the execs. Read the SEC's complaint. Citi was charged with misleading investors over a $1 billion CDO called Class V Funding III, The money would be which it structured while distributed to affected taking a position wherein investors, but a judge has Citi would benefit if the refused to sign the order, $258,000,000 CDO defaulted-claiming it is not fair or seemingly aligning itself in the public interest. The against the interests of its SEC is appealing his investors. One employee decision. in charge of structuring the CDO was also fined. Read the SEC's complaint. Citibank was charged with passing on bad loans to the Federal Housing Authority to insure, in a whistleblower case that $30 million goes to the $158,000,000 alleged Citi actively whistleblower. The rest undermined the process goes to the FHA. that was suppose to check for fraudulent or risky loans. Read the settlement. $2,202,041,577 Part of the big mortgage- $413 million in penalties $2,202,041,577 servicing abuse to federal and state

Jan. 11, 2011

SEC

Citigroup

July 29, 2010

SEC

Oct. 19, 2011

SEC

Feb. 15, 2012

DOJ

Citigroup Feb. 9, 2012 DOJ and States' Attorney Generals

Date

Agency

Settlement Amount

Details settlement. Read Citi's consent judgment.

Where Did the Money Go? governments. $1.79 billion in homeowner relief programs.

Countrywide (Bank of America)

$87,500,000 Three former executives of Countrywide Financial, which was bought by Bank of America in 2008, were charged with insider trading and misleading investors about subprime mortgage risks. $67,500,000 Countrywide's former CEO, Angelo Mozilo, was hit with the bulk of the penalties and was permanently barred from serving as officer of a public company. Another executive got a $5 million fine. Countrywide was charged with illegally foreclosing on 160 members of the military $20,000,000 without court orders, violating a federal law meant to protect servicemembers' finances. $550,000,000 Goldman was charged with misleading investors over a subprime CDO called Abacus 2007-AC1. Goldman did not tell investors that the hedge fund Paulson & Co. was $550,000,000 involved in the creation of Abacus and placing bets against it. Read Goldman's consent to the settlement. Read the proposed judgment on the settlement. $5,486,588,661 JP Morgan was charged with fraud over its handling of the CDO $153,000,000 called Squared. The company failed to disclose to investors that

Oct. 15, 2010

SEC

Distributed to affected investors.

May 26, 2011

DOJ

Distributed to victims of wrongful foreclosure.

Goldman Sachs

July 15, 2010

SEC

$300 million to the Treasury. $250 million to affected investors.

JP Morgan

June 21, 2011

SEC

More than $125 million distributed to affected investors. $27 million to Treasury.

Date

Agency

Settlement Amount

Details

Where Did the Money Go?

Feb. 9, 2012 Merrill Lynch

DOJ and States' Attorney Generals

Jan. 25, 2011

SEC

the hedge-fund Magnetar had been involved in the creation of the CDO, while it stood to benefit if Squared defaulted. Read the SEC's complaint. Part of the big mortgageservicing abuse $5,333,588,661 settlement. Read JP Morgan's consent judgment. $10,000,000 Merrill Lynch was charged with using customer information to $10,000,000 make trades for its own benefit, and charging unfair mark-ups. $200,000,000

$1.12 billion in penalties to state and local governments. $4.21 billion in homeowner relief programs.

Penalty to the Treasury.

Morgan Keegan (Regions Bank)

June 22, 2011

SEC

State Street

Feb. 4, 2010

SEC

TD Ameritrade

Feb. 3, 2011

SEC

The investment arm of Regions Bank, Morgan Keegan, was charged with fraud over mispricing and misrepresenting its Distributed to affected $200,000,000 subprime mortgage investors. backed securities. Two executives were also slapped with $100,000 and $50,000 fines. Read the SEC's order. $300,000,000 The Boston-based financial firm was charged with misleading investors about its $50 million to the exposure to subprime $300,000,000 Treasury. $250 to mortgage risk, while affected investors. disclosing more complete information to particular investors. Read the SEC's order. $10,000,000 TD Ameritrade was charged with misleading investors about a money market fund that was Distributed to affected $10,000,000 supposed to be a safe bet, investors. but which tanked in 2008. Read the SEC's order. $11,000,000

Date Wachovia (Wells Fargo)

Agency

Settlement Amount

Details

Where Did the Money Go?

April 5, 2011

SEC

Wells Fargo Feb. 9, 2012 DOJ and States' Attorney Generals

Wachovia was charged with marking up the cost of a struggling CDO for investors, among them $7.3 million distributed $11,000,000 the Zuni Indian Tribe. to affected investors. (Wells Fargo bought Wachovia in 2008.) Read the SEC's order. $5,342,233,716 $1.01 billion in penalties Part of the big mortgageto state and local servicing abuse $5,342,233,716 governments. $4.34 settlement. Read Wells billion in homeowner Fargo's consent judgment relief programs.

Sources: SEC, Justice Dept., nationalmortgagesettlement.com, Bloomberg