The NCAA announced a $60 million fine today against Penn State University as part of the fallout from the child sex abuse scandal involving former coach Jerry Sandusky. The university also is banned from bowl games for four years.
The NCAA also vacated all of Penn State's football wins from 1998 to 2011, stripping the late Joe Paterno of the title of winningest coach in major college football history.
Get complete coverage of the Penn State scandal and fallout for the university on CNN.com, CNN TV and CNN Mobile.Watch live coverage now on http://CNN.com/Live
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