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Bank of America was charged Wednesday with roughly $1.3 billion in fines and only a handful of individual penalties. - 

Two published reports today suggest that Bank of America could pay something in the range of $16 billion dollars to settle with the government for alleged misconduct in the run up to the 2008 financial crisis. More on the how the situation might play out. Plus, President Obama is expected to sign legislation that would pump just under $17 billion dollars into the Department of Veterans Affairs' struggling healthcare system. The agency came under fire for sometimes fatal delays for treatment and staff manipulating waiting lists. The money will go towards hiring more nurses and doctors - and to allow some veterans to get care outside the VA system. Also, one of the biggest business and policy stories of the decade is emerging from Mexico, where the Senate there has approved the centerpiece of a new plan for the country's oil industry.  The decision ends the 75-year long monopoly held by the state-owned company Pemex.  Privatization is on the way.

Follow David Brancaccio at @DavidBrancaccio