Past failings fine of $33m for HSBC 
HSBC has been fined $33m by a US banking regulator for past failings in the administration of certain bank accounts; business restrictions imposed in connection with the issue have been lifted. The Office of the Comptroller of the Currency (OCC) said the civil penalty related to HSBC failing to rectify issues around how it dealt with payment change notices. The OCC originally asked the lender to change its practices in 2011, saying the bank had used "unsafe and unsound practices" when notifying customers about mortgage payment changes.

U.S. bank regulator fines HSBC $33 mln for past failings

LONDON, Jan 9 (Reuters) - A U.S. banking regulator fined HSBC $33 million on Monday for past failings in its administration of some bank accounts, and ended business restrictions it had placed on the lender because of the problem.

The Office of the Comptroller of the Currency (OCC), which oversees the U.S. federal banking system, said it assessed the civil penalty against HSBC for failing to correct deficiencies in how it administers so-called 'payment change notices' on some accounts.

The OCC had originally issued an order for the bank to change its practices in 2011. The bank had exhibited "unsafe and unsound practices" in how it notified customers about changes in mortgage payments, the OCC said.