Wednesday, March 2, 2011

HSBC suspends foreclosures in the U.S.

HSBC suspends foreclosures in the U.S.: "HSBC Holdings, Europe's biggest bank, has suspended U.S. foreclosures after a joint examination by the Federal Reserve and the Office of the Comptroller of the Currency.

The regulators issued letters noting 'certain deficiencies' in the processing, preparation and signing of affidavits and 'other documents supporting foreclosures' at HSBC Finance and HSBC Bank USA, the London-based lender said in its annual report."

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