Impunity: freedom from punishment, harm or loss. Ex. Most Americans feel bank executives are given impunity over the consequences of their actions by large government bailouts; particular the bailouts of 2008/2009.
Penal: having to do with punishments or penalties. Ex. Both police officers and judges must be familiar with the local penal code. The Penal code is a body of laws relating to crimes and offenses and the penalties for their commission.
Penance: an act of self punishment, or religious devotion, to show sorrow or regret for sin or wrongdoing. Note: it is debated among religious people whether the intent of penance is to actually redeem one for their sins in god's eyes or whether it is simply a tool to help bring the mind or body into submission to desired religious principles.
Punitive: giving, involving, or aiming at punishment. Ex. The FDA often requires Pharmaceutical companies to pay large punitive fines, above the cost of any real damages, for marketing their products in ways that were not previously approved by the FDA.
