Why JPMorgan, Credit Agricole and HSBC's Rate Rigging Fine Isn't That Much

JPMorgan Chase (JPM) - Get Report , Credit Agricole (CRARY)  and HSBC (HSBC) - Get Report  were fined some $521 million by the European Commission for rigging benchmark European interest rates, the Euribor. Craig Erlam, senior market analyst at Oanda, based in London, said the fine was on the lenient side, given how the much money the banks made from the rigging activities. JPMorgan was hit with the highest fine of all three banks. The investigation spanned five years. The European Commission said the banks participated in a "cartel." TheStreet's Scott Gamm reports from Wall Street.