https://www.law.cornell.edu/uscode/text/17/512 (search for "(f)" a couple of times)
It has been a very weak penalty in practice without much enforcement, but there are some examples of it being used:
https://en.wikipedia.org/wiki/Online_Policy_Group_v._Diebold.... (successfully, but with low enough damages that it was mainly a moral victory and not really a disincentive for anything)
https://en.wikipedia.org/wiki/Lenz_v._Universal_Music_Corp. (rather less successfully, but not only was the work allowed to stay online, the case did confirm that copyright holders must at least give subjectively good-faith consideration to the idea that material or activity may be fair use before sending a notice of infringement. this does not necessarily require a proper legally reasonable weighing of the statutory fair use factors, just subjectively good-faith consideration.)