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

LONDON (Reuters) – 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.

A logo is pictured on HSBC bank in Geneva, Switzerland, August 16, 2018. REUTERS/Denis Balibouse

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

Source Reuters

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