Household HSBC Watch

SW in North Carolina said: “My dad purchased a motor cycle, and the loan was from HSBC Retail Services. He is a deaf mute so I handle his payment for him. Not once but twice now HSBC has clamed that they haven’t gotten the payments. Calling my mom and being very […]

EC in New York asks: “Has anyone received a credit card from HSBC / Direct Merchants Bank which they did not apply for (an unsolicited credit card)? I did and am wondering how widespread this predatory marketing practice by HSBC / Direct Merchants Bank is. The issuing of an unsolicited credit card is […]

HSBC had planned to collect overdraft fees for Brits leaving university this summer, but after thousands of students mounted an online protest via Facebook, HSBC has scrapped the plan entirely. According to the National Union of Students (NUS), which organized the protest, more than 4,000 students badmouthed the bank from a Facebook group […]

An HSBC commercial was today criticised for misleadingly claiming Bank Account Plus customers were not charged for withdrawing cash abroad. In fact, the bank charges a 2.75% exchange rate adjustment to cover card processing and handling costs. That adjustment is “essentially a transaction fee” charged to HSBC customers, the Advertising Standards Authority […]

Using “payday loans” as a business model, HFC and Beneficial Finance once used the model for second mortgages. Although it may not be the best deal for the borrower it is a sweet deal for the lender. American homeowners who never considered a loan from the shady underworld of “pawn your title” and […]

The nation’s financial regulator reaffirmed Tuesday that it will not approve the sale of the Korea Exchange Bank (KEB) until a court rules as to whether the bank was sold at an unfairly low price to U.S. investment fund Lone Star. Asked whether the Financial Supervisory Service (FSS) will approve the sale, FSS Deputy […]

Why did the subprime money pipeline shut down? And which bank was buying mortgages from brokers and lenders? HSBC of course. Subprime and second mortgages were to HSBC like Household International was to predatory lending - an easy ride to profits. Or so they thought. Second mortgages? Sorry, but HSBC has […]

Forget old-fashioned occupations and sit-ins: student protest has gone “viral”. Online networking phenomenon Facebook has emerged as the venue for a rapidly proliferating campaign that has already brought in thousands of recent graduates. It’s called “Stop the Great HSBC Graduate Rip-Off!”

We recommend adding Jaxtr to your Facebook account. With Jaxtr you can add a […]

Dubai’s effort to break up the agreed takeover of Swedish stock exchange operator OMX Group (OMX.ST) by NASDAQ (NDAQ) suffered a severe blow Aug. 23. Sweden’s Financial Supervisory Authority ruled that Borse Dubai, a government-owned holding company, “breached the law” when it issued a press release Aug. 9 announcing that it was in the process […]

South Korean tax officials have again raided Lone Star’s offices in Seoul, seizing documents relating to the US private equity fund’s recent asset sales worth $2.3bn.

The raid, which comes in a week when the firm said it was in talks to sell Korea Exchange Bank (KEB) to HSBC for as much as $5.5bn, will […]