Household HSBC Watch

As we continue to monitor HSBC 2007 promises to be a banner year. We created a new interactive section where we will post your HSBC complaints. Interactive because you participate. Comment on any issue. The new section is here, at http://householdwatch.com/news/

For bloggers the RSS feed of the new section is http://feeds.feedburner.com/HsbcWatchInteractive
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MEXICO CITY (MarketWatch) — The Mexican Ministry of Public Functions said Tuesday it will look into complaints of conflict of interest against a former finance minister, who was appointed this month as an independent director on the board of U.K.-based banking group HSBC Holdings PLC (HBC).

Francisco Gil Diaz, who was finance minister from 2000 […]

Seen in The Asian Banker on December 18, 2006: “HSBC is scrambling to reinforce senior management to stave off internal problems at Household International, its U.S. sub-prime acquisition made when Sir John Bond was chairman. Looks like serious problems are creeping up.”

HSBC is cutting at least 20 jobs from its corporate finance division in the latest sign it is dropping John Studzinski’s plan to build a global investment banking business.

The bank is shutting its general industrials and technology, media and telecoms investment banking teams. This follows similar cuts earlier in the year and the departure […]

The Australian unit of HSBC Holdings (0005) will sell its broker-originated mortgage portfolio valued at US$1.75 billion (HK$13.65 billion) to FirstMac, a leading Australian residential mortgage provider.
The portfolio consists of 10,000 customer accounts distributed through brokers in Australia.

HSBC Bank Australia will retain the majority of its non-broker originated mortgage portfolio, valued at US$5.8 billion. […]

How long before HSBC employs a cohort of burly bailiffs to chase up debtors? Bad loans hang around the neck of the world’s third-largest bank like an albatross. Most of it comes from former predatory lender Household International which is still in business as HSBC Finance Corporation. And HSBC is buying more […]

NetSurf users are reeling from HSBC’s shock decision to suspend their accounts because their RISC OS computers are allegedly infected with spyware. The high street bank has confused the open source browser NetSurf with a strain of PC malware going by the same name, and has locked their customers out for security reasons, it is […]

HSBC, which derived about 80 percent of its pretax profit from outside the U.K. in the first half of this year, moved to London 13 years ago following its purchase of Midland Bank Plc, one of Britain’s top four banks at the time. The Bank of England ruled that HSBC would only be allowed to […]

Over 420 votes are in and HSBC credit cards are ranked as poor or unprofessional by 80 percent of those who voted. See the survey here. However, Ken Harvey, HSBC’s chief information officer, told analysts at a presentation the bank would reap the rewards of its global scale as well as its […]

Sep 21, 2006 — Less than a year after launching its Australian in-store finance business, HSBC Holdings has won a major contract. UK-based HSBC has unseated US rival GE Money from its seat as the sole consumer financing provider for the National Associated Retail Traders of Australia. The contract will give HSBC a monopoly […]