Bank Agrees to Enhanced Compliance Obligations, Oversight by Monitor in Connection with Five-year Agreement
WASHINGTON–(ENEWSPF)–December 11, 2012. HSBC Holdings plc (HSBC Group) – a United Kingdom corporation headquartered in London – and HSBC Bank USA N.A. (HSBC Bank USA) (together, HSBC) – a federally chartered banking corporation headquartered in McLean, Va. – have agreed to forfeit $1.256 billion and enter into a deferred prosecution agreement with the Justice Department for HSBC’s violations of the Bank…
