Household HSBC Watch

A group of hedge funds is telling the U.S. Securities and Exchange Commission to be on the lookout for manipulation of bonds backed by subprime mortgages.

Paulson & Co., based in New York, told the SEC that investment banks may pay inflated prices to buy bad loans that are collateral for bonds, said Michael Waldorf, […]

Many suspect a racketeering case will eventually include electronics retailer Best Buy and HSBC. At issue is ongoing compensation to Best Buy due to payments HSBC says are “late” when in fact they are not. However, Best Buy is already wrapped up in a racketeering case, this time with Microsoft. In the […]

HSBC is making inroads into Viet Nam regardless of the country’s human rights record and public sentiment in the U.S. and other coutnries. In Washington Vietnam’s president heard a barrage of criticism Thursday during his historic visit to Washington, with angry U.S. lawmakers saying ties between the former enemies will stagnate until Vietnam’s dismal […]

When asking if poor Internet banking is limited to United States users, or simply HSBC Finance customers, HSBC is saying one thing while live reports are saying something else. A totally different picture is revealed in complaints about HSBC online payment websites. (see more)

Here is the HSBC position:
Lucy Havard-Williams, HSBC area manager (Personal […]

In the U.K. tens of thousands of new graduates will be hit by overdraft interest payments after HSBC announced plans to become the first high street bank to scrap free borrowing for university leavers.

Traditionally, banks allow new graduates a three-year interest-free period on their student overdrafts so they can clear the balance. But students […]

HSBC’s largest credit card customer is having a tough time lately. Best Buy Stores uses HSBC Finance for the Best Buy credit card. Will your payment will be processed ‘late’ even if it is not, making an additional $39 for Best Buy and HSBC? Some say it has been happening all along.

Best […]

What HSBC needs, Barron’s says, is a new Chairman (one who wasn’t a former CEO) and a shakeup of its board, which lacks diversity. Non-executive directors met only twice last year (vs. Citigroup Inc.’s (C) seven times). HSBC also needs tighter control over its global assets, to accelerate the transfer of strategies between regions, and […]

The following HSBC press release is somewhat deceiving. There is no HSBC Bank in Prospect Heights Illinois. Prospect Heights is home to HSBC Finance Corporation, formerly known as predatory lender Household International. Perhaps Mr. Bruce J. Hammersley and Civis Financial Group would like you to think otherwise, judging by the press […]

Living in an area with multiple foreclosures can result in a 10 percent to 20 percent decrease in property values, said John Kilpatrick, president of Greenfield Advisors, a Seattle real estate consulting firm. In some cases that can wipe out the equity of homeowners or leave them owing more on their mortgage than the house […]

Today Simonds International Corp. manufactures sharp and biting bandsaw blades. The company changed hands in 1981 when Household International Inc. bought Wallace-Murray. By 1982, the company was telling salaried workers they would have to take pay cuts or work 10 days without pay. Household International eventually sold companies not related to […]