Reports: $1.9 Billion Settlement Expected In HSBC Money-Laundering Case

The Wall Street Journal and The New York Times are reporting that federal and state authorities will announce a record $1.9 billion settlement with British banking firm HSBC on Tuesday. The deal will settle allegations that HSBC ignored red flags of massive money laundering by Mexican drug cartels and allowed transfers of billions of dollars from nations like Iran, which are under U.S. sanctions ...