HSBC to pay $249 mln to end foreclosure reviews

WASHINGTON Fri Jan 18, 2013 3:00pm EST

WASHINGTON Jan 18 (Reuters) - HSBC Holdings Plc agreed to pay $249 million to end a case-by-case review of past foreclosures in the U.S., regulators announced on Friday.

The settlement, with the Office of the Comptroller of the Currency and the Federal Reserve Board, is the 13th the agencies have reached this month involving foreclosure issues, bringing the total payout by banks to $9.3 billion.

HSBC will pay $96 million in cash to eligible borrowers and $153 million in loan assistance.