Household HSBC Watch

Ohio Rep. Michael Oxley, one of the two congressmen behind the Sarbanes-Oxley corporate reform legislation that was passed the same summer of the WorldCom debacle, said investors could be cheered by the Ebbers verdict. “Due process takes time, and the prosecutors are to be congratulated,” he said. “Every investor and everyone harmed by the […]

Between 1998 and 2000, Lehman Brothers also recognized the profit potential in backing predatory lending. Investment Dealers Digest reported that Lehman had risen from third place in 1998 to become the top underwriter of residential asset-backed securities, with a total of more than $12 billion in issues in 2000. Lehman worked closely with First Alliance […]

The former finance chief of WorldCom testified on February 10, 2005, that the company called off 2001 merger talks with Verizon after he and CEO Bernard Ebbers worried Verizon would discover WorldCom had cooked its books. Scott Sullivan told jurors he worried Verizon would uncover the fraud during a process called due diligence, in which […]

When do phone calls from one party, entity or company become harassment? What does the Fair Debt Collection Act (see more) say about this subject? And most importantly, if the calls are to a wrong number how do you get them to stop? Our researchers are preparing a true life case from […]

HSBC filed this with the SEC - “Household’s Board of Directors has adopted a Code of Ethics for Senior Financial Officers. That Code of Ethics is included as Exhibit 14 to this Annual Report on Form 10-K. Household also has a general code of ethics applicable to all employees that is referred to as […]

HSBC (Household International) operations are located throughout the United States, in 10 provinces in Canada and in the United Kingdom, with principal facilities located in Lewisville, Texas; New Castle, Delaware; Brandon, Florida; Jacksonville, Florida; Tampa, Florida; Chesapeake, Virginia; Virginia Beach, Virginia; Hanover, Maryland; Bridgewater, New Jersey; Rockaway, New Jersey; Las Vegas, Nevada; Charlotte, North Carolina; […]

An SEC 10-K filing during the transition from Household International to HSBC Finance Corporation is informative and quite revealing. “For business majors studying acquisitions, consumers studying predatory lending, or perhaps journalists studying and researching HSBC, this document is revealing and very interesting” said Household - HSBC Watch. The source is the SEC and […]

On March 28, 2003, Household International, Inc. (“Household”) was acquired by HSBC Holdings plc (“HSBC”) by way of merger with H2 Acquisition Corporation (“H2”), a wholly owned subsidiary of HSBC, in a purchase business combination. Following the merger, H2 was renamed “Household International, Inc.” Effective January 1, 2004, HSBC transferred its ownership interest in Household […]

24 May 2005 - HSBC bank workers are to go ahead with a 24-hour strike after talks to settle a dispute about pay broke down. The walk-out, which is scheduled for Friday, will be the first major strike at a British bank for 40 years. Union Amicus said a last-ditch meeting had failed to head […]

According to a story in The American Banker from the Spring of 2000, Mayor Daley was considering an ordinance that would prohibit the City from depositing its funds in any bank funding or buying loans with interest rates above 11% or charging four or more points. “We find it interesting that Household International corporate […]