HSBC to pay US$601 million for shoddy US mortgage practices

February 5, 2016 6:26 PM

6 0

HSBC to pay US$601 million for shoddy US mortgage practices

WASHINGTON: British banking giant HSBC is to pay more than US$600 million to US authorities for its abusive mortgage lending and foreclosure practices in the housing market, officials said on Friday (Feb 5).

HSBC, Europe's biggest bank, will pay US$470 million to settle the allegations by the US government, 49 states and the District of Columbia, the Justice Department said in a statement.

Also read: India's Adani to raise investment by $439 mln in Odisha state

Read more

To category page

Loading...