Household HSBC Watch

Soaring gas prices are turning a record number of Americans into credit-card deadbeats. Credit card delinquencies - that’s bills overdue by at least 30 days - reached a record high of 4.81% of accounts in the three months ending in June, the American Bankers Association announced yesterday. That’s compared with 4.76% in the first […]

September 29, 2005 Credit card delinquencies shot to a record high in the second quarter, as consumers tried to keep up with rising gas prices and increasing interest rates without curtailing spending, a report showed yesterday. The percentage of credit card accounts that were 30 days or more past due rose to 4.81 […]

From the Columbus (Ohio) Dispatch of September 21: “HSBC lobbyist Van Doorn, who fought stricter state oversight three years ago, said, ‘There’s no question that the regulations could use some tightening.’ He said Ohio’s predatory-lending law was an important step, but, ‘We’re light years ahead of where we were’ when it passed in 2002. Shortly […]

Innner City Press posted this. ( See their full article)

Update of September 19, 2005: Guess who’s been a correspondent for Macau’s Banco Delta Asia, named last week as a money launderer for North Korea, and a primary money-laundering concern? HSBC, of course — the world’s standardless bank. According to The Standard, Banco Delta Asia […]

By Kim Yon-se - Staff Reporter
HSBC has not paid the taxes due on tens of billions of won it gained as a result of transactions of shares in 2002 and 2003 in a small Korean company via its equity fund, officials from tax agencies said.

HSBC had acquired PKL, a Korean manufacturing firm in Chungchong […]

A crackdown on current account penalty charges could slash the cost of banking for millions of customers. The Office of Fair Trading is telling banks and building societies they must follow guidelines on excessive charging for some services or face a formal investigation. This follows the OFT’s ruling that penalty charges of up […]

Sept. 28 (Bloomberg) — Growing Chinese companies will seek to buy those in the U.S., which is a “natural and desirable’’ action because the U.S. needs to attract investment from abroad, said the chairman of HSBC Holdings Plc’s Asia unit. “It is natural and desirable Chinese companies acquire assets in the U.S.,’’ Vincent Cheng, […]

“We are in the process of rolling out what we call the Household Model based on sophisticated data-intensive analysis that is rapidly scalable, offering customised solutions. Using a common technology platform that is tailored to local requirements, various financial solutions are provided” said Niall Booker of HSBC. The Chief Executive Officer of HSBC, Niall […]

Talk that HSBC Holdings (HBC) is about to bid for Bear Stearns (BSC) is highly unlikely, says Mark Thomas at Keefe, Bruyette & Woods. HSBC has said its days of strategic acquisitions are over, and “in terms of geographies, products, and skill base, it’s difficult to see what Bear Stearns could add to what HSBC […]

SEOUL (Dow Jones)–U.K-based banking giant HSBC Holding Plc.(HBC) denied Thursday a local newspaper report that it may soon sign a memorandum of understanding to buy a controlling stake in Korea Exchange Bank (004940.SE), held by U.S.-based private equity investment company Lone Star Fund. The Korea Times reported Thursday, citing an unnamed executive at […]