The brokerage units of HSBC (HBC -0.6%) and U.S. Bancorp (USB) agree to pay a combined $1.78M in...

|About: HSBC Holdings PLC (HSBC)|By:, SA News Editor

The brokerage units of HSBC (HBC -0.6%) and U.S. Bancorp (USB) agree to pay a combined $1.78M in fines to settle charges that they misled investors over auction-rate securities. HSBC also agrees to buy back more of the debt from its customers, in addition to the $562M it has already repurchased.