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HSBC settles U.S. subprime mortgage claims for $765 million

Business Oct 10, 2018

HSBC settles U.S. subprime mortgage claims for $765 million

British banking giant HSBC has agreed to pay $765 million to resolve allegations it passed on toxic mortgage securities to investors prior to the global financial crisis, federal prosecutors announced Tuesday. Between 2005 and 2007, HSBC staff knowingly packaged low-grade loan pools with high rates ...