Back in 2010, Wachovia Bank paid $160 million to resolve allegations that its weak internal controls allowed Mexican cartels to launder millions of dollars worth of drug proceeds. Wells Fargo bought Wachovia in 2008.

And Swiss bank Credit Suisse paid $536 million in 2009 to settle U.S. claims concerning business with Iran and other countries.

While HSBC's penalty dwarfs these other settlements, it's still just a fraction of the $16.8 billion in profits the bank recorded globally last year.