LONDON (Reuters) – HSBC on Tuesday said it would pay $765 million (582.50 million pounds) 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)