Michigan getting more than $3.5 million in HSBC settlement - WNEM TV 5

Michigan getting more than $3.5 million in HSBC settlement

Posted: Updated:
File photo File photo
LANSING, Mich. (AP) -

Michigan is getting more than $3.5 million as part of banking giant HSBC's $470 million settlement with states and the federal government over mortgage lending and foreclosure abuses.

Michigan Attorney General Bill Schuette announced Michigan's share of the settlement on Monday.

The money will provide direct payments to borrowers for past foreclosure abuses, loan modifications and other relief for borrowers in need of assistance. The deal also requires the bank to improve standards for how it services loans and handles foreclosures.

Officials say the lending and foreclosure abuses helped intensify the country's economic meltdown.

Copyright 2016 Associated Press. All rights reserved.

  • Trending StoriesTrending StoriesMore>>

  • Suspect in fatal church shooting charged with murder

    Suspect in fatal church shooting charged with murder

    Monday, September 25 2017 12:12 AM EDT2017-09-25 04:12:45 GMT

    The suspect in the fatal shooting at an Antioch church will be charged with one count of murder in connection with the shooting on Sunday morning, police said.

    More >

    The suspect in the fatal shooting at an Antioch church will be charged with one count of murder in connection with the shooting on Sunday morning, police said.

    More >
  • Meijer bakery employee diagnosed with hepatitis A

    Meijer bakery employee diagnosed with hepatitis A

    Friday, September 22 2017 8:55 AM EDT2017-09-22 12:55:52 GMT
    (Source: Meijer)(Source: Meijer)

    The Michigan Department of Health and Human Services confirmed a bakery food worker at the Meijer store located at 1015 Pickard Street in Mt. Pleasant was diagnosed with the illness.

    More >

    The Michigan Department of Health and Human Services confirmed a bakery food worker at the Meijer store located at 1015 Pickard Street in Mt. Pleasant was diagnosed with the illness.

    More >
  • Taco Bell to open 300 new locations that will serve alcohol

    Taco Bell to open 300 new locations that will serve alcohol

    Wednesday, September 20 2017 5:29 AM EDT2017-09-20 09:29:05 GMT
    (Wikimedia Commons)(Wikimedia Commons)

    Taco Bell is about to put booze on the menu at more than 300 new locations.

    More >

    Taco Bell is about to put booze on the menu at more than 300 new locations.

    More >
Powered by Frankly
WNEM
Powered by WorldNow CNN
All content © 2017, WNEM; Saginaw, MI. (A Meredith Corporation Station) . All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.