HSBC Reaches $470 Million Accord Over Foreclosure Abuses

  • Bank reached settlement with Justice Department, 49 states
  • HSBC must reform mortgage-servicing practices under deal

HSBC Holdings Plc will pay $470 million to end U.S. probes into allegations of foreclosure abuses including robo-signing that may have deprived struggling borrowers of opportunities to keep their homes.

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