HSBC Holdings Plc, Europe’s largest bank by market value, posted a decline in full-year profit after paying a record penalty for compliance failures and said costs rose for a third year, missing its target.
Goldman Sachs Group Inc. has signaled it will fight a U.S. lawsuit over subprime mortgage instruments the same way Bank of America Corp.’s Merrill Lynch unit and UBS AG have challenged similar claims -- by invoking the concept of caveat emptor: Latin for buyer beware.
HSBC Holdings Inc. has agreed to a $249 million accord to settle claims of improper U.S. foreclosures, joining 12 other mortgage servicers in a deal that now exceeds $9 billion, according to banking regulators.
Goldman Sachs Group Inc., Morgan Stanley and two other banks may agree as soon as this week to settle claims over botched foreclosures in an accord similar to one reached with 10 other loan servicers, two people briefed on the discussions said.
HSBC Holdings Plc, Europe’s biggest bank, will reap a $2.4 billion after-tax gain from the sale of its U.S. credit card division to Capital One Financial Corp. as the lender focuses on growth in emerging markets.