HSBC pays $1.6 billion to end 14-year mortgage-lending lawsuit

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(Reuters) – A unit of HSBC Holdings Plc (HSBA.L) said on Thursday it will pay $1.575 billion (1.11 billion pounds) to end a 14-year-old shareholder class action lawsuit stemming from the household international consumer finance business that the british bank bought in 2003. HSBC Finance Corp expects.

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HSBC pays $1.6 billion to end 14-year legal battle. Global banking giant HSBC has agreed to pay $1.6 billion to end a long-running securities fraud case involving the mortgage and credit card.

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