Morning Scan: HSBC's Billion-Dollar Legal Tab; Ex-B of A Banker...

Receiving Wide Coverage ...

HSBC Woes: Legal matters pounded HSBC, as the British bank reported quarterly earnings. HSBC set aside $1.6 billion, according to the Financial Times, or $1.7 billlion, according to the Wall Street Journal, to cover legal settlements, including resolving a probe into rigging foreign-exchange markets, and the cost of reimbursing customers. The set-aside also included $550 million to cover a settlement with the U.S. Federal Housing Finance Authority to resolve a probe into...