LONDON Jan 9 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 leading national banks, said it assessed the civil
penalty against HSBC for failing to correct deficiencies in how
it administers so-called payment change notices on some
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.
In a statement, the bank said it was glad that regulators
were satisfied with its work to improve mortgage servicing.
(Reporting by Lawrence White; Editing by Adrian Croft)