Bank of America Corp. and HSBC Holdings Plc agreed to settle lawsuits brought over property insurance that borrowers were forced to accept, lawyers for the homeowners said at a federal court hearing in Miami.
A Deutsche Bank AG unit won dismissal of a suit brought by mortgage-bond investors after an appeals court determined the claims were subject to a six-year statute of limitations that began to run when the deal closed -- a ruling that may limit new suits.
A U.S. unit of HSBC Holdings Plc agreed today to strengthen a compliance program that federal bank regulators said was ineffective and created “significant potential” for money laundering and terrorist financing.
Confab Industrial SA said its board gave approval for the company to get $350 million in five-year financing from HSBC Bank USA. Confab will use the money to acquire 25 million common shares from Usinas Siderurgicas de Minas Gerais SA, according to a regulatory filing.
Morgan Stanley can’t ask a court in Singapore to block shareholders living in that country from suing over their losses on $154.7 million in synthetic collateralized debt obligations, a judge in New York ruled.