0846 GMT [Dow Jones] US federal judge blocks a proposed $360M settlement of a class-action lawsuit filed in Chicago against HSBC Holdings (HBC) unit HSBC Taxpayer Financial Services, and H&R Block related to refund anticipation loans, H&R Block said Fri. HSBC not immediately available to comment. “Could the settlement turn out to be larger? Potentially,” says analyst. But it’s a fairly small worry given HSBC’s size and the matter is unlikely to affect HSBC’s share price, he says. Shares +0.46% at 872.125p. (NHL)
Archive for » May, 2005 «
Category: 05 All Articles, 05 Worldwide
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Lea Verny, head of investment banking at HSBC Russia, left the bank last week, having become the 12th top manager of the bank resigned during half a year. The experts say such numerous resignations signal that today’s bosses of Moscow HSBC don’t embrace the stake on large corporate clients in Russia.
Category: 05 All Articles, 05 Worldwide
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LONDON (Reuters) - Global bank HSBC said on Tuesday it was keeping a close eye on the credit quality of retailers, retail suppliers and housebuilders as weakening consumer borrowing in the UK and abroad threatened to bite.
Category: 05 All Articles, 05 HSBC - U.S., 05 HSBC Holdings
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Published: May 28, 2005 By Reuters
A federal judge yesterday rejected the $360 million settlement of a lawsuit accusing H&R Block, the tax preparer, and HSBC Taxpayer Financial Services, a consumer lender, of deceiving poor customers into taking out high-interest loans. Judge Elaine E. Bucklo of the United States District Court in Chicago said yesterday that the settlement did not offer enough value and that many potential claimants might never learn of their rights. But Judge Bucklo said the coupons offered little value.”It seems likely that the $6 coupon fee would simply be lost in higher fees and it is at any rate too little to be meaningful,” she wrote.
Category: 05 All Articles, 05 Tax Masters
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Is HSBC RS and HSBC NV showing up on your credit report and you don’t know who they are? The truth is they are HSBC Bank’s subsidiary, owned by a holding company of HSBC. They are former predatory lender Household International, now part of HSBC Bank. Demand a copy of the application, copies of the charge receipts or delivery slips. When you receive the evidence, their claim falls apart. It proves that you did not open the account. “If it is a case of identity fraud or identity theft the only correct item will be your social security number” says watchdog organization Household - HSBC Watch. “Check the bottom of our pages to see a partial list of merchants supported by HSBC and Household International.”
