Violation Tracker Individual Record
Company:
HSBC
Current Parent Company:
HSBC
Penalty:
$4,000,000
Year:
2016
Date:
February 18, 2016
Offense Group:
consumer-protection-related offenses
Primary Offense:
consumer protection violation
Violation Description:
HSBC agreed to pay $4 million in settlement of allegations it received commissions and kickbacks related to improper force-placed insurance policies.
Level of Government:
state
Action Type:
agency action
Agency:
Massachusetts Attorney General
Civil or Criminal Case:
civil
Facility State:
Massachusetts
HQ Country of Parent:
United Kingdom
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.
