HSBC hit with $2.5bn US court judgment HSBC suffered more than $30bn of writedowns throughout the financial crisis, much of it related to the acquisition of Household. The bank has subsequently pared back its US operations and exited many of the former Household businesses. The judgement comes nearly a year after US prosecutors fined HSBC a record $1.9bn following an investigation into money laundering by the bank. The fine came after a report by the US Senate found evidence the bank had helped launder money for drug gangs, terrorists and rogue states. Stuart Gulliver, chief executive of HSBC, has apologised for the bank's actions and launched a widespread restructuring of the company's business practices and structure.