HSBC Holdings Plc, already facing a $2.46 billion judgment in an 11-year-old securities-fraud case, must keep litigating claims as a U.S. judge ordered more exchanges of evidence for a potential follow-up trial.
Unlike many commodities, there are many shades to gold, such as the Love Trade’s buying gold for loved ones and the Fear Trade’s purchasing gold as a store of value. An additional “shade” investors need to be aware of is how the Fed interprets the recovery of the U.S. economy.
Edelman recently released their annual Trust Barometer report, and for the third year in a row banks and financial services placed in the bottom two spots. In contrast, technology is the most trusted industry.
Comedy Central's Stephen Colbert recently discussed HSBC's admission to laundering money and violating international banking sanctions. One thing that has become clear is that not only are these mega-banks too-big-to-fail, but they also are too-big-to-prosecute.
HSBC Holdings Inc. has signed a $249 million accord to settle claims of improper U.S. foreclosures, joining 12 other mortgage servicers in a deal that now exceeds $9 billion, according to banking regulators.