Big banks paid for their financial crimes, the never-ending euro zone crisis continued and shoppers ditched turkey dinners for deals. Here’s a look at major business news of the year.
Big banks agree to mortgage settlement In February 2012, 17 big banks, including Bank of America, Ally Financial, HSBC and Morgan Stanley, agreed to pay $25 billion to settle allegations by state and federal officials that they used falsified documents to evict homeowners facing foreclosure. The deal represented the largest industry settlement with the government since the 1998 agreement with tobacco companies. AP/Bloomberg/Reuters Buy Photo