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Article

10 Apr 2024

Author:
Good Jobs First

USA: Corporate misconduct penalties surpass $1 trillion since 2000, report says

Photo by Drew Beamer on Unsplash

"The Trillion-Dollar Mark: Corporate Misconduct Cases Reach a Dubious Milestone," 10 April 2024

Regulatory fines, criminal penalties, and class-action settlements paid by corporations in the United States since 2000 have now surpassed $1 trillion. Total payouts for corporate misconduct grew from around $7 billion per year in the early 2000s to more than $50 billion annually in recent years...

...127 large parent companies have each paid more than $1 billion in fines and settlements over the past quarter-century. The most penalized industries are financial services and pharmaceuticals, followed by oil and gas, motor vehicles, and utilities...

Bank of America has... the largest penalty total at $87 billion... Other actors include BP, Johnson & Johnson, and PG&E. The most penalized privately held company is Purdue Pharma...