Citizens Completes HSBC Branch, Digital Bank Acquisition
Providence-based Citizens Financial Group Inc. has completed the acquisition of 80 HSBC Bank U.S.A.’s East Coast branches, as well as HSBC’s national online deposit business.
Citizens Bank Moves Toward National, Digital-First Bank
Providence-based Citizens Financial Group plans to use its upcoming acquisitions, including HSBC’s digital bank, to help fuel its expansion nationally.
Megabank Shares Slide on Report of Rampant Money Laundering
The financial sector was hit hard Monday following a report alleging many large banks have continued to profit from illicit dealings with criminal networks despite previous warnings from regulators.
HSBC to Pay $100M to End Libor Rigging Lawsuit
HSBC Holdings Plc has agreed to pay $100 million to end private U.S. litigation accusing it of conspiring to manipulate the Libor benchmark interest rate, becoming the fourth major bank to settle.
First Banker Tried In US For Trade Scheme
U.S. prosecutors have said that Mark Johnson, formerly head of HSBC’s global foreign exchange cash trading desk, schemed to ramp up the price of British pounds before executing a trade for Cairn, making millions for HSBC at Cairn’s expense.
HSBC, UBS Settle US Rate-Rigging Litigation; 10 Banks’ Total Payout Tops $408M
HSBC Holdings Plc. and UBS Group AG have each agreed to pay $14 million to settle private U.S. litigation accusing them of rigging an interest rate benchmark used in the $483 trillion derivatives market.
HSBC Partners With AI Startup To Combat Money Laundering
HSBC Holdings Plc. has partnered with Silicon Valley-based artificial intelligence startup Ayasdi Inc. to automate some of its compliance processes in a bid to become more efficient.
Banks, Brokers Gird For Brexit-Style Tumult Following Tuesday’s Election
Big global banks, including Morgan Stanley, JPMorgan Chase & Co. and HSBC are bracing for potential tumult on financial markets after Tuesday’s U.S. election.
US Sides With HSBC To Block Release Of Money Laundering Report
The U.S. government asked a federal appeals court on Thursday to block the release of a report detailing how HSBC Holdings Plc. is working to improve its money laundering controls after the British bank was fined $1.92 billion.
HSBC, AG Reach $750M Settlement
The national mortgage lender and servicer HSBC and the attorney general’s office have reached a $470 million joint state-federal settlement to address mortgage origination, servicing and foreclosure abuses. The settlement will provide direct payments to many...
