Household HSBC Watch

Chicago (Aug. 31, 2006) - Tax prep giant H&R Block Inc. announced that a federal judge has approved a $39-million settlement of a class-action lawsuit brought by customers over the company’s refund anticipation loans. A U.S. district court judge approved the settlement, the group’s third effort to reach a agreement in the suit, […]

HSBC Finance Corporation, a wholly-owned subsidiary of HSBC North America Holdings Inc., said Tuesday it has reached agreement with the shareholders of Solstice Capital Group Inc. to acquire 100% of the privately held US-based mortgage lender.

The transaction is subject to regulatory approval.
Solstice Capital Group, based in Irvine, CA, had gross assets of USD […]

17.08.2006 - UNI affiliate Amicus has expressed frustration at the discovery of a culture of unpaid overtime at branches across HSBC Bank. A survey by Amicus members in HSBC has found that many work an average of five extra hours per week.

Unpaid overtime is also a significant problem. Amicus Official, Bernadette Fisher said: “Inadequate […]

NEW YORK - A former HSBC Bank USA vice president pleaded guilty on Friday in Manhattan federal court to a conspiracy charge over his role in a $30 million telemarketing fraud targeting low-income people with poor credit histories, U.S. Attorney Michael Garcia said.

Raymond Payne, a 35-year-old Brooklyn, New York resident, admitted to one count of […]

MUMBAI, NEW DELHI, AUG 14: The position of HSBC India CEO, Naina Lal Kidwai, 49, as the bank’s boss now hangs in balance, with the Reserve Bank of India asking her to step down from the global board of Nestle SA. The RBI has withheld approval of Kidwai as HSBC CEO until she quits […]

NEW YORK — The U.S. arm of HSBC Holdings PLC said it will shuffle its senior management team, including replacing the head of its retail banking unit.

Martin Glynn, the 55-year-old chief executive of the U.S. retail bank, will retire at the end of the year, after 24 years with HBSC, the company said Monday.
His replacement […]

HSBC North America Holdings’ Business Solutions Group, the commercial arm of the company’s Retail Services business, has entered into a strategic alliance to acquire the consumer and commercial credit receivables of OfficeMax, one of the leading office supply retailers in the United States.

“Our ability to provide customized business payment solutions allows our clients to focus […]

The PNC Financial Services Group Inc., based in Pittsburgh, reported a 10.18% passive stake in HSBC USA Inc.

According to documents filed with the Securities and Exchange Commission, PNC owns 1.3 million shares of the U.S. subsidiary of London-based HSBC Holdings PLC.
Investors who hold shares just for passive investment purposes and do not influence the […]

NEW YORK, Aug 9 (Reuters) - A federal appeals court ruled that Bank of America Corp., HSBC Holdings Plc and Sterling Bancorp must defend against a lawsuit related to a lawyer’s Ponzi scheme that defrauded Orthodox Jews and others out of millions of dollars. A three-judge panel of the U.S. Second Circuit Court of […]

LONDON (Reuters) - An online security flaw has left 3.1 million British customers of bank HSBC open to hacking and fraud for at least two years, the Guardian newspaper reported on Thursday. It said a group of researchers at Cardiff University had found that hackers could secretly record customers’ keystrokes and were then usually […]