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Violation Tracker Individual Record

Company: HSBC
Current Parent CompanyHSBC
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $10,000,000
Year: 2014
Date: July 1, 2014
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Violation Description: The United States Attorney for the Southern District of New York and the Federal Housing Finance Agency announced that the United States settled civil fraud claims under the False Claims Act against HSBC Bank USA N.A., HSBC Finance Corporation, HSBC Mortgage Corporation (USA), and HSBC Mortgage Services Inc. related to what was said to be HSBC's failure to oversee the reasonableness of foreclosure-related charges submitted to the Federal Housing Administration and the Federal National Mortgage Association for reimbursement.
Level of Government: federal
Action Type: agency action
Agency: U.S. Attorney-Southern District of New York
Civil or Criminal Case: civil
HQ Country of Current Parent: United Kingdom
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.