I was on my way home from my Monday night soccer league and heard this being reported from BBC America on NPR:
HSBC is to pay US authorities $1.9bn (£1.2bn) in a settlement over money-laundering, say reports, the largest ever in such a case.
The UK-based bank was alleged to have helped launder money belonging to drug cartels and states under US sanctions.
I really don't know the backstory or political implications, but damn, that's a lot of money. Further:
The $1.9bn sum in the HSBC settlement is expected to include around $1.25bn forfeited by HSBC - the largest amount ever paid out in such a case - and a $650m civil fine.
I'd love to hear from some folks who have been following this more than I have.
Also - First diary :)