Mortgage-Backed Securities Abuses Cause HSBC Pay $765 Million

HSBC Agrees To Pay $765 Million In Connection With Its Sale Of Residential Mortgage-Backed Securities

Mortgage-Backed SecuritiesThe United States Attorney’s Office in Denver announced today that HSBC will pay $765 million to settle claims related to its packaging, securitization, issuance, marketing and sale of residential mortgage-backed securities (RMBS) between 2005 and 2007.
Federally insured financial institutions and others suffered major losses from mortgage-backed securities abuses by HSBC.  HSBC will pay the $765 million as a civil penalty pursuant to the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA).
United States Attorney Bob Troyer said:

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