A payment and an apology are the first two steps made by the beleaguered bank.

Worldwide banking giant HSBC has agreed too pay more than $1.9 billion to settle with U.S. authorities for its failure to abide by anti-money laundering and sanctions laws. NBCNews.com reports that the amount is the highest penalty ever imposed on a bank.

"We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again,” [Stuart Gulliver, chief executive of HSBC Group] said.