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HSBC to exit most of US retail banking

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British investment banking company HSBC is winding down most of its U.S. retail banking operations.

The company announced it would sell 90 of its 148 U.S. branches. Another 35 to 40 are slated to eventually close.

Citizens Financial Group Inc.’s Citizens Bank and Cathay General Bancorp ’s Cathay Bank are buying portion of HSBC's U.S. business.

Read more from The Wall Street Journal.

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