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HSBC to pay $765 mn to settle US mortgage securities misselling claim

HSBC said in a statement it has been working since the financial crisis to improve its internal controls and culture.

hsbc

FILE PHOTO: The HSBC bank logo is seen at their offices in the Canary Wharf financial district in London, Britain | Photo: Reuters

Reuters LONDON

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.

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.

 

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First Published: Oct 09 2018 | 9:50 PM IST

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