HSBC Pays $1.6 Billion to End 14-Year Mortgage-Lending Lawsuit
Thursday, a unit of HSBC Holdings said it will pay $1.575 billion in order to end a 14-year old shareholder class action lawsuit. The lawsuit stems from questionable mortgage lending undertaking more than a decade ago from the Household International consumer finance business that HSBC bought in 2003, according to an article by Jonathan Stempel for Reuters. In the second quarter, the company …