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Stock Market & Financial Investment News

News Breaks
July 1, 2014
10:42 EDTHSBCHSBC reaches $10M settlement agreement over foreclosure charges, Reuters says
HSBC has reached a $10M settlement agreement over allegations that it failed to oversee the reasonableness of charges it submitted in connection with foreclosures, reports Reuters. According to the office of U.S. Attorney Preet Bharara, the settlement agreement resolves the claims under the federal False Claims Act. Reference Link
News For HSBC From The Last 14 Days
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July 18, 2014
11:21 EDTHSBCBritish antitrust regulator to investigate country's banks, NY Times reports
The U.K.'s antitrust authorities said they expected to open a formal investigation into Britain's retail banking industry, reports the New York Times. The regulators cited barriers to competition that include control of a national network of branches by four large banks that control more than three-quarters of the market. Reference Link
July 10, 2014
07:08 EDTHSBCECB keeps tight grip on banks with health check results, Reuters says
The European Central Bank is targeting to keep a tight grip banks in the final phase of a balance sheet health check in October, giving them only 48 hours to review the test results before publishing them, according to Reuters, citing two people familiar with the matter. The assessment will look into banks balance sheets and measure their ability to handle shock and stress. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).

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