Commercial banks that have violated the nation’s banking code face up to $1 million in penalties, as of Dec. 31, 2018.
The penalties apply to any violation, whether it involves the bank’s own practices or conduct that affects the integrity of the financial system, such as falsifying bank statements or other records, or using false documents to obtain a loan.
Bankers and their firms are also barred from making loans to people, or from creating new business, that are based on fraudulent documents.
The government’s penalties are part of the $1.3 trillion in fines the industry agreed to pay in exchange for help from regulators in 2016 to rein in the mortgage industry.
The Justice Department said the penalties could apply to more than $1 trillion in loans and securities.
Commercial banks and their regulators have faced scrutiny since the financial crisis and the economic downturn, but the fines have not been shared with the public.
They also face some of the biggest fines in the country for their actions during the financial meltdown.