OREANDA-NEWS. Item 8.01 - On April 13, 2016, HSBC North America Holdings Inc., announced that HSBC Bank USA, N.A., (HSBC Bank USA) has reached an agreement with the Office of the Comptroller of the Currency (OCC) to resolve a regulatory review of past billing practices related to certain credit card add-on products that were sold primarily to customers of HSBC Bank Nevada, N.A., a former subsidiary of HSBC Finance Corporation, as well as to customers of HSBC Bank USA. As part of the agreement, HSBC Finance Corporation will pay a civil money penalty of $35 million to the OCC. Refunds of product fees and related charges will be made to affected customers, both existing and former, in line with a refund plan currently being developed by HSBC. The total amount of customer refunds will be determined by the refund plan, and will be funded primarily by HSBC Finance Corporation, with the balance funded by HSBC Bank USA.