HSBC, the bank that offered a “rescue” mortgage deal to help homeowners facing surging repayments, is hitting the same borrowers who take up the deal with arrangement fees of up to £9,999. It has emerged that after an increase last Wednesday in the fees charged for taking out the deal, the maximum fee for […]
Forty-eight workers at HSBC Mortgage Services’ Chesapeake facility are losing their jobs. HSBC Mortgage Services notified state officials of the layoffs this week. The notice says the layoffs are effective Aug. 17 and are due to a permanent reduction of the company’s work force there. The Hampton Roads Economic Development Alliance says HSBC […]
A retired HSBC employee sent this note: “Good luck HSBC. California got Countrywide today for misleading loans. HSBC was exactly the same.” The statement addresses an area we have been studying for over a year. One of the Household - HSBC Watch team members has a Countrywide loan and has […]
Several HSBC websites are subject to scripting flaws that create a possible mechanism for crooks to create more convincing phishing scams. Security blog xssed.com has posted a list of affected domains, which include HSBC sites in multiple territories including the UK. Xssed has been tracking problems on the bank’s sites since last year. The […]
HSBC Finance is a nationally known subprime lender. At the onset of United States mortgage problems HSBC Finance had few, if any, prime FHA insured loan packages. Casting caution to the wind HSBC loaned to almost anyone. While HSBC was not the only subprime lender, nor the only mortgage lender to suffer […]
Some of us remember when Wachovia was a small North Carolina based bank. This week Wachovia hired investment bank Goldman Sachs to advise it of its options on its decimated loan portfolio. Wachovia said that Goldman will “perform analytics on our loans to evaluate various alternatives. One does not think of Wachovia as […]
The Philippine peso may slide 14 percent against the dollar to a three-year low by June 2009 as the nation’s trade deficit widens and foreign investors shun local assets, according to HSBC Holdings Plc. It is not good news for workers. HSBC Philippines is not just a call center. HSBC Philippines is […]
For those who thought HSBC paid too much for a predatory lender when the bank bought Household International, rumors about HSBC and UBS drive home the point. The long-running rumor about HSBC mulling a takeover of UBS resurfaced today, pushing the Swiss banking major’s share price higher by over four per cent, even as […]
We like developing nations, said HSBC. It is a matter of risk and reward, or as others see it, less risk because laws are less stringent. HSBC is not doing well in Korea, as the acquisition of KEB stalls. Charges of KEB Card stock price manipulation, links to the United States through […]
Once upon a time — back before the crying, wailing, and sobs of subprime lending — HSBC plc said the bank did not spend money on lobbying and attempts to influence legislation. Certainly William F. Aldinger spent money to do so in the United States, as his predaotry little company (Household International) was purchased […]
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An open letter to HSBC, Knight Vinke and Stephen Green
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
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