Settlement with US Department of Justice centres on allegations that bank ‘robo-signed thousands of foreclosure documents without reviewing paperworkHSBC has been fined $470m (£325m) for “abusive mortgage practices” in relation to the 2007-2009 housing crisis in which millions of people lost their homes.
The British bank on Friday agreed to pay the fine to settle US federal and state investigations into alleged abuses against homeowners struggling to sustain up with mortgage payments during the 2008 global financial crisis. Continue reading...
Source: theguardian.com