BP Paribras Iran Sanctions Case: Why American Bank Fines Have Gotten So Big

Friday's announcement that U.S. bank regulators will fine BNP Paribas $10 billion for alleged violations of U.S. sanctions on Iran has caused outrage in France, where the bank is headquartered. The National Front, the right-wing party that just shocked the establishment in the European elections, accused the U.S. of "racketeering" and urged President Francois Hollande to bring up the matter at his coming meeting with President Barack Obama.