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Dropbox, HSBC, and the CFPB

Katherine O'Hara | January 19, 2018

This week, Dropbox filed confidentially for an IPO, HSBC settles over money-laundering allegations, and the CFPB is giving loan-sharks some slack.

Fool me twice | International bank HSBC has said “uncle,” and agreed to pay $100m after a lengthy probe by the U.S. Justice Department. That money is to resolve the DoJ’s investigation into currency rigging, but this isn’t the first time the bank has been in hot water. A few years ago, HSBC broke one or two rules, like breaching international sanctions by doing business with Iran, and laundering money for a Mexican drug cartel. No big deal. They deferred prosecution for five years, and now HSBC says they are “committed to ensuring fair outcomes for its customers.” Probably. Maybe. Speaking of…

Everybody now | Western Union...

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