BREAKING NEWS

BREAKING NEWS

HSBC to pay $765 million to settle U.S. mortgage securities mis-selling claim

Now Reading:

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
@ Copyright :
Darrin Zammit Lupi(Reuters)
Text size Aa Aa

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)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.