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The Boston Globe

Business

Bank to pay $249m in foreclosure agreement

WASHINGTON — British bank HSBC will pay $249 million to settle federal complaints that its US division wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.

The agreement with the Federal Reserve and the Office of the Comptroller of the Currency is similar to deals with 12 other banks that ended a review of loan files required under a 2011 federal action. Combined, the 13 banks will pay $9.3 billion.

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