HSBC to pay US$765 million to settle US mortgage securities mis-selling claim

HSBC to pay US$765 million to settle US mortgage securities mis-selling claim

A logo is pictured on HSBC bank in Geneva, Switzerland, August 16, 2018. REUTERS/Denis Balibouse
LONDON: HSBC on Tuesday said it would pay US$765 million to the United States Justice Department to settle claims it mis-sold mortgage-backed securities between 2005 and 2007.The bank's announcement confirmed a total penalty that HSBC said in August it would likely pay. HSBC said in a statement it has been working since the financial crisis to improve its internal controls and culture.
(Reporting By Lawrence White. Editing by Jane Merriman)
Source: Reuters
 Source : https://www.channelnewsasia.com/news/business/hsbc-to-pay-us-765-million-to-settle-us-mortgage-securities-mis-selling-claim-10808942