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 Implications of the global crisis HSBC incurred $ 765 million

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Join date : 2015-02-19

PostSubject: Implications of the global crisis HSBC incurred $ 765 million   Wed Oct 10, 2018 11:16 am

Implications of the global crisis HSBC incurred $ 765 million


The Euphrates -

A decade after the global financial crisis, major banking institutions are still paying for their practices in recent years before the crisis.

HSBC agreed to a $ 765 million settlement with the US Department of Justice for misleading investors after selling securities backed by low-quality mortgages between 2005 and 2007.

The Department of Justice asserts that HSBC has made a decision to buy, assemble and sell distressed real estate loans with full awareness of the risks associated with them.

The bank had been expecting the financial fine to be added to the huge fines it paid over the past decade, including $ 2.5 billion in the head of the bank's executive office, and $ 1.9 billion after the scandal involving the bank in Mexico after being charged with money laundering for gangs. Drugs in Latin America.

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