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  • Associated Press

HSBC reaches $470 million settlement over mortgage abuses


The Hongkong and Shanghai Banking Corporation (“HSBC”) was ordered to pay $470 Million for its role in the 2008 mortgage crisis in the United States. Allegations against the banking giant include the use of robo-signing and other tactics that deprived struggling borrowers of opportunities to keep their homes.

#bank #fraud #sec #abuse

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