Seeking Alpha

HSBC may be liable for another $650M+ in Household case

  • The $2.46B that HSBC (HBC) must pay to settle a case involving its Household International unit may not be the end of the matter.
  • HSBC was told to pay the sum after Household was found to have misled investors about the quality of its loans and to have carried out predatory lending.
  • However, the money doesn't account for 25,000 pending claims of over $650M, lawyers for the plaintiffs said.
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