HSBC (Hong Kong Shanghai Bank Corp) has been dealt a major blow to its expansion plans in China. Its main domestic partner, Chinese lender Bank of Communications, has been reclassified as a large state-owned bank, which protects it from a foreign takeover.
Popularity: 4% [?]
Eric Stein, senior vice president of the Center for Responsible Lending, said lenders who made high-interest rate loans to borrowers with weak credit are to blame for pushing homeowners into financial peril.
Popularity: 6% [?]
Campaigners today hit out at plans by a leading UK bank to set up a branch where only the wealthiest customers can receive face-to-face services.
Popularity: 3% [?]
The History of Sub-Prime and Predatory Lending, approximately 30 pages in PDF format, is revised for 2007. This educational and informative document is written as a lesson plan for educators, but is also prudent for anyone that wants to learn about the subject. At the same time The History of Sub-Prime and Predatory Lending tells why the mortgage market of 2007 is in such dire straights.
Popularity: 6% [?]
Look for signs of consolidation and streamlining as HSBC possibly looks to clean up their United States image by unloading predatory lender Household International, now called HSBC Finance Corporation. The North American division accounted for almost two-thirds of HSBC’s $10.6 billion in loan-loss provisions for 2006. HSBC earned $4.7 billion before tax in North America last year (2006). Never fully accepted by reputable bankers and shunned in part by investors and shareholders, HSBC Finance Corporation still has a profitable, albeit questionable, private label credit card business. HSBC paid $14 billion for Household International in 2002-2003.
Popularity: 7% [?]
Legal Info
Household HSBC Watch is a watchdog and consumer advocacy organization.
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
We are not associated with HSBC, Household International, or their merchants.
Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act.
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