Costs rose at the global bank, profit in North America fell 16% and questions are mounting for new CEO John Flint ahead of the release of his strategic plan.
Overseas firms have been subject to nonpublic versions of the Federal Reserve reviews, but observers say some foreign banks may be tripped up by the public version.
HSBC Chief Executive Officer John Flint and Chairman Mark Tucker are considering shrinking the bank's global imprint even further as part of a plan set to be revealed over coming months, according to people with knowledge of the discussions.
HSBC agreed to pay $100 million to settle an antitrust lawsuit by over-the-counter investors, including the city of Baltimore and Yale University, who claimed they were harmed when they bought securities tied to rigged Libor.
HSBC is letting artificial intelligence software predict the types of reward offers card customers prefer. It's driving up response rates in marketing tests, but the process raises privacy and other issues.
Despite past missteps in the U.S. mortgage business, the bank is giving it another go, bringing servicing in-house and catering to millennials and international clients here, says HSBC’s Raman Muralidharan.
Goldman Sachs CEO Lloyd Blankfein is reportedly considering leaving by the end of this year; American Express plans to reduce its merchant fees to stay competitive.
