SBC to Pay $550 Million to Settle U.S. Mortgage Bond Claims

NEW YORK (Reuters) – HSBC Holdings Plc <HSBA.L> is expected to pay $550 million (338.29 million pounds) to resolve a U.S. regulator’s claims the bank made false representations in selling mortgage bonds to Fannie Mae <FNMA.OB> and Freddie Mac <FMCC.OB> before the financial crisis, a person familiar with the matter said Friday.  Read more here.