Violation Tracker Individual Record

Company: 
HSBC
Current Parent Company: 
HSBC
Penalty: 
$5,250,000
Year: 
2012
Date: 
March 12, 2012
Offense Group: 
financial offenses
Primary Offense: 
toxic securities abuses
Violation Description: 

The National Credit Union Administration and HSBC reached a settlement regarding potential claims relating to the sale of residential mortgage-backed securities to five failed wholesale credit unions.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
National Credit Union Administration
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Britain
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.