News Topic: HSBC

HSBC Bank is joining the Massachusetts Institute of Technology’s Industrial Liaison Program as part of a broader effort to invest more in technology, data and analytics. ... Read full article

Digital currency surges past both $12,000 and $13,000 on Wednesday; the bank may make it back quickly, depending on the corporate income tax rate. ... Read full article

America’s largest lenders made an epic mistake a decade ago when they cashed out of Visa and Mastercard through initial public offerings, says Chenault, who will step down in February as CEO of American Express. ... Read full article

Cordray picking his own interim successor sets off a firestorm; co-head of global banking leaves the U.K. bank after only 18 months. ... Read full article

Bank ponders assisting customers trading digital currency futures; banks still face challenges despite a good third quarter. ... Read full article

HSBC's private-banking unit was fined a record $51 million over sales of structured products linked to Lehman Brothers in Hong Kong. ... Read full article

Departing chairman Martin Gruenberg says the financial system is still vulnerable to unforeseen shocks; bank offers ways for customers to avoid overdraft fees. ... Read full article

HSBC Chairman Mark Tucker has met with shareholders and discussed takeovers of U.S. credit card businesses in his first month in office, the Sunday Times reported. ... Read full article

Big banks have raised deposit rates faster than regionals in order to retain depositors; India’s largest payment app wants to expand. ... Read full article

Treasury contests agency’s claims that ban on mandatory arbitration benefits consumers; former head of FX trading used client information to profit the bank. ... Read full article

HSBC named John Flint as its next chief executive officer after new Chairman Mark Tucker opted not to break with tradition and tapped a long-serving insider to run Europe's largest bank. ... Read full article

Also on Friday, Deutsche Bank agreed to pay $190 million to settle allegations that it rigged foreign exchange rates. ... Read full article

The global bank’s U.S. unit has bounced back, aided by growth in deposits and wealth management profits as well as a focus on international customers. A $125 million investment in tech and branches hasn’t hurt either. ... Read full article

Acting Comptroller Noreika says he will defer to Congress to determine whether the rule requiring mandatory arbitration should be killed; Bitcoin Cash to start trading but is causing confusion in the digital currency market. ... Read full article

After posting a second quarter of revenue growth and with plans to return another $2 billion of cash to investors, departing boss Stuart Gulliver’s six-year turnaround of HSBC Holdings might finally be gathering momentum. ... Read full article

Fifth Third's chief legal officer has emerged as a leading contender to get the nod as the FDIC's next chief; credit card profits under pressure at banks. ... Read full article

Advancements aimed at speeding the flow of information by eliminating manual processing are helping the global custody bank attract new clients and win more business from existing ones, fueling revenue growth and improving efficiency. ... Read full article

A monitor's report detailing HSBC's compliance with a 2012 agreement with U.S. prosecutors to fix faulty money-laundering controls isn't a judicial document and shouldn't be made public, a federal appeals court said. ... Read full article