Commenting on HSBC’s troubled Household Finance unit in the U.S., HSBC Chief Executive Geoghegan said on Tuesday that as the group discontinues writing new business and runs off the consumer lending operations, it expects to see elevated loan impairment charges over the next two years.
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March 30 — HSBC Finance Corp., the U.S. home- lending unit for Europe’s biggest bank, goes to trial this week on claims that a corporate predecessor hid predatory lending from shareholders.
Category: General News, Subprime
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This is a reprint of a document sent to President Barrack Obama by an HSBC customer:
Email sent to Mr. President Obama
Category: Subprime
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The news is reporting that HSBC Refund Anticipation Loans (RAL’s) are harder to get this year. Often the target of consumer activists, these loans often come with interest rates of 100 percent or more. more…
Category: Subprime
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Like AIG, angry shareholders yesterday criticised HSBC’s ill-timed purchase of a US sub-prime lending business and demanded directors repay past bonuses but still gave their backing to a £12.5bn fundraising.
Category: Subprime
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