Household HSBC Watch

JH in tennessee opines: “Prediction is Household / Beneficial will not be around in 2 years. It’s easy to see that they are using their current staff to solicit paying off open Real Estate loans by attempting to qualify them for conforming loans so they can sell off to investors. Couple that with […]

HSBC was reported to have set a July 31, 2008, deadline for sealing the KEB deal. Yet, there is little possibility that criminal proceedings with the two pending cases will be completed by the end of the year, let alone within a month or two. The financial regulator’s rigid position is adding to speculation that […]

Trading in HSBC options jumped Friday to eight times the normal daily volume. Investors picked up 70,000 puts, which let them sell the bank’s stock, and 11,000 calls that allow them to buy it, according to Trade Alert. Traders took up bearish up positions and flocked to September $75 puts, in particular, which were […]

HSBC never looked into the future when they purchased Household International, and they certainly never made developing the company once they acquired it a top priority. I always had the impression that they were in it for the short term, as they were notorious for leaving branches in various stages of decay. Many […]

What always puzzled me was the company’s lack of introspection. Rather than attacking the root of the lack of the production (high rates, high fees, poor customer service), upper management always shifted the blame on the sales representatives. Employees were told that they were not aggressive enough, or that they did not sufficiently […]

While I could literally fill up this entire website with a diatribe about employment issues at HSBC, I am going to try and focus on one area for now- my experience with their corrective action program. Just as HSBC bullies and pressures their customers into taking high interest and fee loans coupled with insanely […]

I was given the hard sales pitch right out of college, and I was swept off my feet with their lustrous tales of exotic sales reward trips, six figure salaries for everyone, and rapid promotion through the corporate ranks. One swine-faced sales manager who was influential in hiring me even told me that it […]

A customer in India (Madhya Pradesh) thinks HSBC has hidden international currency conversion charges. The customer claims he cannot get a straight answer. Here is his report so you can decide for yourself:

“I purchased an item using my HSBC credit card in US dollars on the Internet. The seller turned out to be […]

Moody’s Investors Service on Friday cut its bank financial strength rating on HSBC Bank USA, indicating it may be more likely to need support from its parent, HSBC Holdings. The cut “was prompted by the accelerated deterioration in HSBC USA’s financial fundamentals in the last quarter of 2007 and first quarter of 2008, […]

Where will HSBC Finance be, and their customers, as the economy deteriorates? Does HSBC have any hope for homeowners in the North and Northeast as oil prices skyrocket? In Nymex trading on June 27th, heating oil futures rose 0.71 cent to $3.8905 a gallon while gasoline prices lost 0.68 cent to $3.5045 a […]