Operational Risk 07/05
Our monthly review of fraud management failure, human error and other operational hazards at financial firms around the world, distilled from the First database of operational risk loss events and case studies
HSBC/Citigroup
The New York State Attorney General's Office, under the directorship of Eliot Spitzer, announced in May that it was in the early stages of investigating mortgage-related lending discrimination at a "number of banks". Two lenders have received requests to provide the attorney-general with Home Mortgage Disclosure Act (HMDA) data and other information: HSBC and Citigroup. Additional banks that received letters from Spitzer's office are believed to include Washington Mutual and Wells
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