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HSBC to Cut Up to 50,000 Jobs, Refocus U.S. Unit; HELOC Rate Resets

The sheriff of Wall Street is moving on — much to the elation of the financial services sector. Benjamin Lawsky, superintendent of the New York Department of Financial Services, is departing from his position this June. But he is likely to leave a lasting impression on the culture and mission of the department.

MARQUIS, a provider of data analytics/MCIF to financial institutions, said it has added nine new credit union clients over the past 90 days.

HSBC Holdings, Europe's largest bank, plans to eliminate as many as 25,000 jobs and sell operations in Turkey and Brazil to help restore profit growth.

General Electric agreed to sell its U.S. private-equity lending business and a $3 billion bank loan portfolio to Canada Pension Plan Investment Board for about $12 billion.

Hanmi Financial in Los Angeles has hired a former executive at Opus Bank to fill a newly created strategy post.

Four Oaks Fincorp in Four Oaks, N.C., will soon have a new chief executive.

Debt collector James A. Havassy and his company, Hamilton Law Group, are defendants in a lawsuit alleging they intimidated family members into paying medical bills.

The former head of a now-defunct health care lending unit at JPMorgan Chase is starting a new firm that will offer financing for patients seeking dental, orthodontic and vision care.

The Consumer Financial Protection Bureau fined RPM Mortgage and CEO Rob Hirt $20 million for illegally paying bonuses and higher commissions to loan agents to lead people into more expensive loans. Hirt said the company did nothing wrong.