Huge corporate fines in the US, between 2020 and 2024; which companies are the most penalized

US authorities imposed corporate fines worth more than $ 250 billion between 2020 and 2024, an amount greater than the current GDP of New Zealand, shows an analysis by visualcapitalist.com, which made a ranking of the top 30 companies affected by the largest fines in the US, during the mentioned period, according to data from Protecht Group. The analysis included every publicly announced civil or criminal fine imposed by US federal agencies, the Department of Justice and state attorneys general. The ranking includes non-US companies fined by US authorities, with parent companies accumulating penalties for subsidiaries.

• 3M - leader, with fines of $ 18.7 billion

Topping the list of the most fined companies, 3M has attracted penalties worth $ 18.7 billion from US authorities in the past four years, the cited source notes. The bulk of this amount, $ 12.5 billion in 2024, represents an agreement the company reached with authorities to help clean up "persistent chemicals” from America's water systems. 3M was a major producer of PFAS (per- and polyfluoroalkyl substances) found in products such as fire-fighting foam, non-stick coatings and stain-resistant fabrics. These chemicals are persistent in the environment, being called "persistent chemicals”.

The company received 48 fines between 2020 and 2024.

• Large fines for major environmental disasters

For decades, 3M has been releasing PFAS into the water supply through direct manufacturing and improper disposal practices. This has led to widespread contamination of public water systems, triggering lawsuits from municipalities and water suppliers.

Then, utility giant PG&E, ranked third overall, paid $16.1 billion in 61 separate cases. The bulk of those fines stem from deadly California fires linked to its equipment.

Meanwhile, Cummins and Mercedes-Benz have faced substantial settlements under the Clean Air Act over diesel emissions devices.

• Exorbitant Fines in Healthcare

Seven of the top 15 companies in the fines rankings are in healthcare, led by Johnson & Johnson ($18 billion), McKesson ($8.5 billion), and Walgreens Boots Alliance ($7.6 billion). These companies have reached multibillion-dollar settlements to resolve allegations that their marketing or distribution practices helped fuel the opioid epidemic.

A one-time $8.3 billion fine against Purdue Pharma (negotiated in 2020) shows how regulators have bundled years of alleged wrongdoing into a single, historic payment.

• One-time mega-fines for cryptocurrencies and big financial companies

Unlike healthcare and utilities, crypto platforms have faced huge but rare penalties. The largest was imposed on the bankrupt exchange FTX and its affiliate Alameda Research. They face a $12.7 billion clawback, while Terraform Labs will pay $4.5 billion after the U.S. Securities and Exchange Commission (SEC) ruled that its tokens were unregistered securities.

Another crypto exchange, Binance, agreed to pay $11.4 billion in four anti-money laundering cases.

Traditional banks have not been spared either. Wells Fargo, Goldman Sachs, JPMorgan Chase and TD Bank have collectively been fined more than $21 billion for violations of consumer protection, trading and sanctions laws.