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 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.
HSBC Holdings Plc was accused of targeting Chicago-area minority borrowers for high-cost home loans as Illinois’s Cook County followed other local governments trying to hold subprime lenders liable for urban blight.
HSBC Holdings Plc , Europe’s biggest bank, said first-half net income doubled as the North American unit returned to profit for the first time in three years and as bad-debt provisions fell by 46 percent.
Toronto-Dominion Bank is increasing its bet in the U.S. with the $6.3 billion purchase of Chrysler Financial Corp., capping a record quarter for U.S. takeovers by Canadian lenders as some European rivals retreat.