REPORT: HSBC And US Reach Gigantic $1.9 Settlement Over Money Laundering Allegations


[credit provider=””>AP”]

The Wall Street Journal is reporting that the U.S. and HSBC will reach a $1.9 billion settlement as early as Tuesday following allegations earlier this year of possible money laundering.Back in July, the Senate Homeland Security and Governmental Affairs Subcommittee on Permanent Investigations released a report that alleged the bank had engaged in money laundering

HSBC execs then had to testify before a Senate committee.  

This $1.9 settlement would also end investigations by the Justice Department, the Treasury and other federal agencies, according to the WSJ.