Holder says some banks “too large”

By Staff | March 7, 2013 | Last updated on March 7, 2013
1 min read

U.S. Attorney General Eric Holder has suggested some banks have become “too large,” making it difficult to bring criminal prosecutions against them, “and feeding suspicion among lawmakers who believe that some bankers are ‘too big to jail,’” reports FT.com.

In the course of responding to criticism that HSBC skirted prosecution for violations related to money laundering, he said “his lawyers were wary of the ‘negative impact’ on the economy from prosecuting a large financial institution,” the report explains, adding that Holder would not comment directly on HSBC.

Read more here.

Also read:

HSBC sets aside $1.15 billion to cover laundering fines

HSBC fined for market timing, under-reporting

HSBC says Swiss bank data stolen

Advisor.ca staff


The staff of Advisor.ca have been covering news for financial advisors since 1998.