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 and 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.
Warren Calls for Regulation in Wake of Megabank Money-Laundering Scandal
Massachusetts’ senior senator is calling for greater regulation of banks in the wake of new revelations that megabanks have continued to profit from money laundering and other illicit dealings despite warnings from regulators.
Local Banks, National Lenders Fill Mortgage Gap Post-Recession in Greater Boston
Local banks and national nonbank lenders have capitalized on new conditions in Greater Boston’s supply-constrained and super-charged housing market, beating out big banks for mortgage marketshare in the decade since the subprime mortgage crisis.
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.
HSBC Agrees To Pay $4 Million To State, Homeowners
Attorney General Maura Healy announced yesterday that...HSBC, AG Reach $750M Settlement
The national mortgage lender and servicer HSBC and...WSJ: Banks’ Forex Lawsuit Settlements Near $2B
The total amount paid by banks to settle a civil...
