HSBC Bank Plc came under fire for abusing the United States military, primarily through HSBC Finance Corporation which is former predatory lender Household International. Specific complaints of abuse come as no surprise to Household - HSBC Watch consumer advocates. The watchdog organization performs trend analysis, a project that charts detailed complaints over time. “We completely substantiate the claims of those that blew the whistle on HSBC, having validated those claims for over four years” said the group.
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Becky Barrow, Daily Mail, 19 December 2005
BRITAIN’S biggest bank has slapped a ban on rival customers at peak times. HSBC has put up signs in its 1,500 branches warning that other account holders will not be served between 11am and 2pm.
Category: 05 All Articles, 05 How It Works, 05 Worldwide
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A Tuesday night episode of Boston Legal exposed the credit card industry for what they really are. When any industry goes beyond what is reasonable and prudent in the interest of profit it is a travesty. Boston Legal put the industry on prime time for what they really are, but the show contained a quote we find interesting. “We are one of the largest law firms with offices in London and HongKong”
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 transaction as a ’sale’ prior to a positive announcement and a ‘purchase’ after it,” the regulator said in a statement.
Category: 05 All Articles, 05 Regulators, 05 Worldwide
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TOP firms which have refused to donate £50 to a town’s Christmas lights display have been criticised. Petts Wood Business Association secretary Ken Patel says he is amazed by the lack of Christmas spirit shown by the branches of nationwide companies. So far HSBC has not donated a penny. “For all the money they take from shoppers and they won’t even give back £1 a week for the pleasure and spirit of the residents who pay their mortgage and bills.” said Patel.
Meanwhile on December 1,200 HSBC reported record profits across all divisions according to the Shanghai Daily. HSBC and Shanghai Daily? Why not - your HSBC is actually the Hongkong Shanghai Bank Corp.
Category: 05 All Articles, 05 Worldwide
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