October 2004 - HSBC’s Stephen Green outlined the game plan. HSBC’s (Household International’s) subprime focus will shift to Asia once it expands its business in Mexico and Brazil. The Asian hit-list includes India, Malaysia, Singapore and Thailand.

Green said HSBC is focusing on consumer finance because it is more profitable than some other areas of retail banking and added that HSBC is targeting Mexico and Brazil before Asia because it already has substantial operations there.

“Some parts of the prime market are now highly commoditized in the U.S. and other countries, but once you move out of the highly commoditized products (and into consumer finance), you see a greater return,” Green told DJNS on October 13. He estimated that five percent of the subprime market is predatory

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1. Predatory Lender’s Model Goes to Brazil, Mexico and Turkey
2. Six Major Brokers Cut HSBC Over Household
3. The History of Subprime and Predatory Lending
4. HSBC Brags About Exportation of Predatory Lending
5. Subprime lenders charge excessive fees or rates