U.S Government Reaches $470 Million Settlement With HSBC Over Loan Abuses

(February 8, 2016, 11:45 AM EST) -- WASHINGTON, D.C. —– The U.S. Department of Justice on Feb. 5 announced that it has reached a $470 million settlement with HSBC Bank USA NA, addressing mortgage origination, servicing and foreclosure abuses.

The department said in a news release that it, the Department of Housing and Urban Development, the Consumer Financial Protection Bureau, 49 states attorneys general and the District of Columbia’s attorney general have reached the settlement with HSBC and its affiliates. The Department said that the agreement settles potential violations of civil law based...
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