HSBC compliance official quits, apologizes to Senate over bank's lapses

Associated Press Tuesday, July 17, 2012 WASHINGTON — The head of compliance at Europe's largest bank resigned from his position and apologized Tuesday after a Senate investigation found HSBC had lax controls that exposed it to money laundering and terrorist financing. David Bagley told the Senate investigations panel that he will remain at the London-based bank in a new role. Other HSBC