The logo of HSBC is seen on a building in Hong Kong January 9, 2013. REUTERS/Tyrone Siu
HSBC to pay $249 million to end foreclosure reviews
Posted : Friday, 18 January 2013 03:01PM
WASHINGTON (Reuters) - HSBC Holdings Plc agreed to pay $249 million to end a case-by-case review of past foreclosures in the U.S., regulators announced on Friday.
The settlement, with the Office of the Comptroller of the Currency and the Federal Reserve Board, is the 13th the agencies have reached this month involving foreclosure issues, bringing the total payout by banks to $9.3 billion.
HSBC will pay $96 million in cash to eligible borrowers and $153 million in loan assistance.
(Reporting By Aruna Viswanatha; Editing by Gerald E. McCormick)
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