Grilling Regulators on HSBC, Lawmakers Say They Want to Speak to DOJ Next

By Colby Adams

U.S. lawmakers called for testimony from federal investigators Thursday as part of an effort to push for more aggressive punishment of individuals and financial institutions that aid money launderers and sanctions dodgers. In a hearing, members of the Senate Banking Committee questioned senior financial regulatory officials about their oversight of HSBC Holdings Plc and other banks, as well their role in a series of U.S. Justice Department decisions not to indict compliance officers and senior bank personnel who have taken part in Bank Secrecy Act violations. Justice Department officials should explain to lawmakers why they chose not to prosecute individuals...