HSBC Bank USA

In July 2011, the company sold its branches in upstate New York to First Niagara Financial Group for $1 billion, effectively selling-off the core of the old Marine Midland Bank.

[10] In 2019, HSBC announced plans to open new branches, including one in Depew, New York, near one of its remaining back offices in Buffalo.

[11][12] In February 2020, Reuters News Agency reported that HSBC Holdings would shed $100 billion in assets, shrink its investment bank and revamp its U.S. and European businesses, including closing around a third of its 224 branches and target only international and wealthier clients.

[13] In February 2021 it was reported that HSBC is planning to pull out of all retail banking in the United States and that it is exploring a sale of its remaining 150 branches.

[14][15] These reports proved true; on May 26, 2021, HSBC announced that it would abandon the United States retail market as part of a pivot to Asia.

In April 2022, Citizens Bank completed the acquisition of 80 branches from HSBC in New York City, New Jersey, Pennsylvania, Washington, D.C., Maryland, Virginia, and Florida.

[17][18] In December 2012, HSBC paid a record $1.9 billion fine for laundering in excess of $881,000,000 in drug cartel money and violating anti-terrorism sanctions.

[23] In September 2020, the FinCEN Files probe revealed that HSBC moved vast sums of dirty money for international criminals.