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Violation Tracker Individual Record

Company: HSBC Bank USA, National Association
Current Parent Company: HSBC
Penalty: $249,000,000
Year: 2013
Date: January 18, 2013
Offense Group: financial offenses
Primary Offense: banking violation
Secondary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: HSBC has joined the agreement in principle announced by the Federal Reserve Board and Office of the Comptroller of the Currency and will pay $249 million in cash payments and other assistance to help mortgage borrowers. The payments stemmed from enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing.
Level of Government: federal
Action Type: agency action
Agency: Office of the Comptroller of the Currency
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)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.