July 22, 2017 11:36 PM ET

Banks

Company Overview of HSBC Bank USA, N.A.

Company Overview

HSBC Bank USA, N.A. provides retail banking, wealth management, commercial banking, private banking, asset management, and global banking products and services to individuals, corporations, institutions, and government agencies. It offers personal financial services, including installment and revolving term loans, deposits, branch services, mutual funds, investments, and insurance, as well as residential mortgage lending services through direct retail and wholesale origination channels. The company also provides private banking services for high net worth individuals and families, including deposits, tailored credit and banking, investment management, trust and estate administration, custody...

1800 Tysons Boulevard

Suite 50

Mclean, VA 22101

United States

Founded in 1850

Phone:

716-841-7212

Fax:

716-841-2034

Key Executives for HSBC Bank USA, N.A.

Chief Executive Officer and President
Age: 55
Chief Financial Officer and Senior Executive Vice President
Age: 68
Chief Executive Officer of HSBC North America
Age: 59
Chief Executive Officer of HSBC Securities
Executive Vice President and Regional President of Upstate Retail Banking
Compensation as of Fiscal Year 2017.

HSBC Bank USA, N.A. Key Developments

HSBC Bank USA Presents at Digital Banking 2017, Jun-12-2017 through Jun-14-2017

HSBC Bank USA Presents at Digital Banking 2017, Jun-12-2017 through Jun-14-2017. Venue: Austin, Texas, United States. Presentation Date & Speakers: Jun-13-2017, Jeremy K. Balkin, Head of Innovation for Retail Banking & Wealth Management.

HSBC Bank USA N.A. Plans to Close an Office in Delaware

HSBC Bank USA N.A. plans to close an office in Delaware and move approximately 400 jobs to Buffalo and Chicago. But the number of jobs that will ultimately shift to the Buffalo market is unclear. What's certain is that HSBC's local workforce of 3,000 is expected to remain steady.

Government Settles Whistleblower Lawsuit Against HSBC Bank USA, N.A. for $2.1 Million

On April 14, 2017, the United States District Court for the Southern District of New York unsealed a False Claims Act qui tam case against HSBC BANK USA, N.A. alleging Small Business Administration (SBA) loan fraud and the United States Attorney's Office for the SDNY simultaneously filed a complaint in intervention and announced the settlement of the entire civil fraud lawsuit, which is captioned United States of America ex rel. Jane Doe, v. HSBC Bank USA, N.A., case no. 11 Civ. 2968 (LGS). As part of the settlement, HSBC agreed to pay the United States $2,118,861.36. The bank also admitted in the settlement agreement that it had sought reimbursement from the SBA on defaulted SBAExpress loans without revealing it had information suggesting the borrowers had submitted false information to HSBC to obtain the loans, or the fact that HSBC had included the loans on an internal list of fraudulent or potentially fraudulent loans. The case was initiated by a former HSBC employee who will receive 17% of the settlement amount.

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