“Even though my account is and has been in good standing — and I also pay $241.72 extra payment on top of my mortage due amount every month since I’ve had this account — HSBC charged a late fee of $143.91. This is for a standard, conventional, 30 year fixed mortgage. We surveyed […]
Barclays, the third biggest U.K. bank after HSBC Holdings Plc and Edinburgh-based Royal Bank, has fallen 26 percent this year, outpacing the 12 percent decline of the Bloomberg banks index. Royal Bank has slipped 28 percent and HSBC is down 2.7 percent. HSBC, heavily invested in Household International, might have a problem.
U.K. banks may […]
“Over the next 12 months we will have greater clarity’’ on defaults as “the bulk’’ of HSBC’s subprime two-year fixed rate home loans in the U.S. reset, Finance Director Douglas Flint said on a conference call with reporters. The company also set aside as much as $1.3 billion for bad unsecured loans through its U.S. […]
Traditional lenders typically offer lower rates than competitors to snare customers. In contrast, subprime lenders base rates on credit scores, so what is a ‘’fair” rate can be difficult to gauge. Subprime borrowers’ credit scores typically fall below 620, on a scale of 350 to 850. To compensate for taking on these riskier customers, […]
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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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