Office of the Comptroller of the Currency

HSBC Fined $35 Million for Billing Practices on Credit Card Add-On Products

HSBC Bank USA reached an agreement with the Office of the Comptroller of the Currency (OCC) last week, which resolved a regulatory review of past billing practices related to credit card add-on products. HSBC Finance Corporation will pay the United States Treasury a civil money penalty of $35 million. In addition to the civil penalty, HSBC will refund