A new credit card reform bill was signed into law by President Obama on Friday before the Memorial Day weekend. The signing took place in the White House Rose Garden.
Archive for » May, 2009 «
HSBC has revealed it may off-load its North American credit cards division if the US economic crisis deepens. No doubt HSBC will feel the pinch from new laws governing credit cards in the United States.
Category: General News
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Here is bad news HSBC probably does not want to hear: “A bill to curb sharp practices in the credit card business was on track for approval by the U.S. Senate as early as Tuesday, with President Barack Obama expected to sign it into law before the end of the month.”
Category: General News
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How did HSBC make out with their purchase of Hosuehold International? While the question did not matter much until 2005, that is when trouble struck.
Category: Subprime
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HSBC thought they had $6.6 billion in gains, but lost part of that by April 2009. They will lose it all.
Category: General News
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