HSBC to pay $765 million to settle U.S. mortgage securities mis-selling claim
HSBC to pay $765 million to settle U.S. mortgage securities mis-selling claim
HSBC on Tuesday said it would pay $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.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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