What I know of the story is that BNP Paribas, France's largest bank, has been under investigation for some time by US Treasury officials for allowing some of it's overseas capital desks to launder and thwart economic sanctions against Iran and the Sudan, among others. The investigation was announced last month. They are apparently going to announce a settlement this evening, now that financial markets in the US have closed.

I must confess, I don't know a lot about the story. It caught my eye because such a large sum has to throw some uncertainty into the banking sector universally.