The U.S. subsidiary of HSBC Holdings plc is near a large settlement with the government over its role in the issuance of pre-crisis residential mortgage-backed securities.
HSBC North America Holdings Inc. and various subsidiaries have received various subpoenas and requests for information from the U.S. Department of Justice and the Massachusetts Attorney General since 2010.
What the federal government sought were documents and other information about the HSBC’s involvement as an issuer, sponsor, underwriter, depositor, trustee, custodian or servicer of RMBS.
Source: Mortgage Daily
