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HSBC has nearly completed a review of its lending practices after taking a $400 million provision linked to a fraud case involving British mortgage lender Market Financial Solutions, which raised shareholder concerns about the bank's risk management and prompted scrutiny of the broader private credit market. #Banking #Fraud #LendingPolicies #GB
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HSBC has reviewed lending policies after $400 million fraud hit, chairman says
LONDON, May 8 (Reuters) - HSBC (HSBA. L), opens new tab has "substantially completed" a review of its lending policies and practises after it took a $400 million provision against a fraud in its UK business, Chairman Brendan Nelson told shareholders on Friday.