The British bank HSBC has reached a $765m (£582.3m) settlement with the US Department of Justice with regards to its sale of mortgage-based securities during the run-up to the financial crisis. The US claimed that HSBC has misled purchasers about the quality of the securities, which were backed by pools of home loans. Following to the US Attorney for the District of Colorado, these mortage-based securities has led to major losses by investors and contributed to a crisis of foreclosures that hit the US. As is usual in these settlement cases, HSBC did not admit or deny the claims.
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