HSBC Reaches $601 Million Settlement In Mortgage Case

HSBC on Friday reached a series of settlements involving $601 million with federal and state regulators and law enforcement agencies to end U.S. probes into allegations of its mortgage origination, servicing and foreclosure practices. Europe’s biggest bank joins five big U.S. banks, including JPMorgan Chase, which cumulatively paid $25 billion in 2012 to settle their alleged abusive mortgage and foreclosure dealings.

HSBC to pay $131 million penalty to Federal Reserve

According to Law 360, British banking giant HSBC totaling $601 million, including $470 million in a deal with the U.S. Department of Justice, the U.S. Department of Housing and Urban Development, and 49 states. The Federal Reserve Board imposed a...