HSBC 'sorry for mistakes'
HSBC chairman has apologised for making "mistakes in the past, and for them I am very sorry." They have set aside £446m top pay for the money laundering scandal and £495m for mis-selling of PPI and credit swaps.
HSBC boss steps down over money laundering
The head of compliance at HSBC has resigned in front of a US Senate subcommittee.
David Bagley stepped down from a 20-year career after it emerged that HSBC had exposed the US to billions of dollars worth of money laundering, drug trafficking, and terrorist financing.
A Senate report found the bank acted as a financier to clients routing funds from the world's most dangerous corners, including Mexico, Iran and Syria.
Mr Bagley said: "Despite the best efforts and intention...HSBC has fallen short of our own expectations and the expectations of our regulators."
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