Click Here to Read: HSBC’s record $1.9bn fine preferable to prosecution, US authorities insist. Officials defend decision not to prosecute in money-laundering case despite HSBC’s ‘blatant failure’ to implement controls Dominic Rushe in New York and Jill Treanor in London guardian.co.uk on the gaurdian.co.uk website on December 11 , 2012.
Assistant attorney general Lanny Breuer said taking away HSBC’s US banking licence could have cost thousands of jobs. Photograph: Richard Drew/AP