AlfonsoGomezBroker.com - HSBC Bank is the second largest bank in the world and it's paying a fine to the U.S. federal government because of a third party, that stinks for them. The bank failed to establish a system to oversee the fees third party companies charged FHA loans in foreclosure for their services.
This management failure will cost them $10 Million. Now this is a lot of money but consider that HSBC has asset estimated to be $2.68 Trillion (source: bankrate.com), well I don't feel so bad for the bank...
For the full DSNews.com article click HERE
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