HSBC 'sorry for mistakes'
HSBC chairman has apologised for making "mistakes in the past, and for them I am very sorry." They have set aside £446m top pay for the money laundering scandal and £495m for mis-selling of PPI and credit swaps.
HSBC chairman has apologised for making "mistakes in the past, and for them I am very sorry." They have set aside £446m top pay for the money laundering scandal and £495m for mis-selling of PPI and credit swaps.
Subcommittee chairman Senator Carl Levin said HSBC used its US bank as a gateway into the American financial system for its affiliates around the world while "playing fast and loose with US banking rules".
He said: "Due to poor anti-money laundering controls, HBUS (HSBC's US operations) exposed the United States to Mexican drug money, suspicious travellers cheques, bearer share corporations, and rogue jurisdictions."
The Democratic presidential candidate may also have shown his cards on his choice of running mate.
The US president also shared a post on Twitter accusing Dr Anthony Fauci of misleading the public over hydroxychloroquine.
Fears over an impending second wave of coronavirus dominates Wednesday’s front pages.