Household HSBC Watch

LONDON (Reuters) - Britain’s Financial Services Authority (FSA) said on Wednesday it had fined global bank HSBC 100,000 pounds for failing to ensure the accuracy of transaction reports from its stockbroking unit.
“In July 2005 the FSA requested certain trading information from HSBC Stockbroker Services (HSS) which, when reviewed, revealed that HSS had reported the client […]

Chief Operating Officer Alan Jebson said HSBC would save about $20,000 for every job it moved to Asia. HSBC runs four service centers in India, three in China and one in Malaysia, one in the Philippines and one in Sri Lanka. Vietnam could be its next outpost, where there is a high population of English […]

Bill collectors are not allowed to call after 9 at night and cannot call on Sunday - or so you thought. If it happened to you see our “Your Money” page to see how much you can charge them because of their violation. The FDIC tells them so - use this link to […]

The instability of oil prices doesn’t just affect how often we drive. Home heating costs are expected to skyrocket throughout the winter. Households heated by natural gas are expected to pay $350 a month this year, an increase of 48 percent from 2004. Homeowners using oil for heating will be paying $378, an increase […]

Does this sound familiar? Are these tactics used by other debt collectors? Read this article:
The Minneapolis/St. Paul Business Journal - 4:45 PM CST Monday
State Commerce Dept. fines collection agency
By John Vomhof Jr., Staff Writer

An Illinois collection agency owned by Sallie Mae has paid a $125,000 civil penalty after an investigation by the Minnesota […]

November 29, 2005 - As many as 150,000 employees and retirees of the former Kmart Corp. would share $11.75 million in a proposed settlement of a lawsuit against ex-company officials over the investment of pension funds in Kmart’s now worthless stock. In August, the U.S. Securities and Exchange Commission filed civil charges of securities […]

Commonly accepted principles of corporate governance include disclosure and transparency–whereby organizations clarify management’s roles and responsibilities to provide shareholders with a level of accountability, and the rights of, and equitable treatment of, the shareholders in question.

British banking behemoth HSBC (nyse: HBC - news - people ) may have gone against the U.K. Financial Service […]

Is this a forged dual-application from Best Buy? A lack of communication within the family? It is, however, a good example of their MarterCard application which claims “$0 to $99 fee” which is usually $99 no matter what. For new merchants, this poses a problem. Will Liz Claiborn and Saks customers […]

Watch for the possibility that more of HSBC’s merchants in the apparel industry may report more in a continuing string of losses. Higher fuel prices and less discretionary income, combined with credit cards from a predatory lender, may mean more dismal quarterly reports.

“Payouts under Shea v Household (HSBC) are scheduled for 2006. When […]

Following a similar move by HSBC merchant Saks, General Motors said yesterday it will restate its financial statements for 2001 because they were overstated by about US$300 million ($444 million) to $US400 million.

Accounting errors led to the wrong figures for net income from continuing operations, which were overstated by 25 per cent to 35 […]