HSBC could face billion dollar fine

July 17, 2012

HSBC officials will appear before a U.S. Senate committee hearing today.  Analysts expect “a withering review of problems at HSBC and transactions tied to Iran, terrorist financing and drug cartels, according to people familiar with a report the panel has drafted on its investigation.”  ING was recently fined $600 million for similar misbehavior, and IBTimes is predicting the fine for HSBC could be as high as $1 billion:

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