It seems like EU's policy of retribution on Big Tech for US fining European banks.
https://www.fnlondon.com/articles/european-banks-face-dispro...
https://www.fnlondon.com/articles/european-banks-face-dispro...
Both seem to perfectly consistent with New York being the world's premier financial center and Europe being somewhat renown for stronger consumer protection.
(which leaves Volkswagen as a terribly embarrassing example of regulatory capture in Germany)
Some German states own parts of VW and clearly would prefer to believe it to be honest mistake VW has learned from. No one should be surprised that the Deutsche Bank are criminals either. I dont think those cases are anything more then corruption preventing proper prosecution. Big corporations simply get away with a lot of stuff if its politically inconvenient. I mean the HSBC laundered billions for drug cartels. Heckler and Koch breached weapon embargos. Non of that is in any way a grey area but plain and simply criminal conspiracy.
One only has to take a peek at the HSBC cartel scandals to know that's patently bullshit.
HSBC is a British bank. Yet, skimming https://en.wikipedia.org/wiki/HSBC#Controversies it appears almost all investigations and fines were the result of SEC and other US investigations.