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Ben Bernanke

US report accuses UK officials of hampering HSBC probe

A U.S. report is accusing British officials of hampering a probe into HSBC, one of the world's largest banks.

The U.S. House Financial Services Committee said Monday it released the report to "shed light" on whether the Department of Justice made prosecutorial decisions based on the size of the institution under investigation. It argued that HSBC was not prosecuted because of fears for the global economy.

In 2013, the bank agreed to pay U.S. authorities $1.9 billion to settle charges that its practices enabled Latin American drug cartels to launder billions of dollars. The bank was accused of "stunning failures of oversight" by federal prosecutors, but...

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