Household HSBC Watch

Standard Chartered bank delivered a sparkling first six months, raising profits before tax by 32 percent. Increasing costs were all but totally offset by an increase in income, driven mostly by Standard Chartered’s wholesale-banking business. It is a far cry from the 29 percent tumble in earnings reported Monday by rival HSBC. HSBC policy […]

China’s anxiety about the flow of money into its bubbling stock markets prompted the Government to punish 29 international and domestic banks this week, including HSBC and Standard Chartered, for failing to halt speculative capital inflows.

The State Administration of Foreign Exchange (Safe) said that it had disciplined 19 domestic banks and ten foreign lenders […]

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 […]

The new bank already has one branch that opened on Monday, in Bethesda, outside Washington, D.C. Besides offering loans and deposits, that office also offers check-cashing services. The new charter will also be used for the bank’s pending expansion into Connecticut later this month.

HSBC has aggressively added branches in multiple states over the past […]

HSBC USA has established a second nationally chartered bank, based in Maryland, to make it easier for the British-owned bank to expand its U.S. branch network. The new HSBC National Bank USA is a sister to Delaware-based HSBC Bank USA, which now operates all but one of HSBC’s U.S. branches, including all of […]

Three years after passing a law intended to curb predatory mortgage lending, the Kentucky General Assembly effectively undid that law yesterday. But legislators disagreed — as do bankers and consumer advocates — on whether the latest action will harm borrowers. The House of Representatives voted 79-16 to enact Senate Bill 45, […]

Nebraska residents experiencing problems with HSBC’s Household Finance, Decision One Mortgage, and Benficial Finance are encouraged to contact the Nebraska Department of Banking. One may do so online here.

About: The Department of Banking was created by Nebraska legislators to regulate state-chartered banks and other financial industries within the state. In 1939, regulation of […]

HSBC lines up deal to buy control of Iraqi bank
This is part of press release by VICTORIA THOMSON ( see original )

HSBC Holdings is close to securing a deal to buy a 70 per cent stake in Iraq’s Dar Es Salaam Investment Bank in a bid to expand into Iraq as it rebuilds […]

August 8, 2005 - New York Attorney General Eliot Spitzer sought dismissal of a case brought by a banking regulator, saying it attempts to strip states of their power to probe mortgage-lending practices at national banks. The U.S. Office of the Comptroller of the Currency, which regulates national banks, sued Spitzer’s office for seeking […]

What happens if you don’t pay your minimum amount due for two consecutive months? Head of Credit Cards and Retail Assets, HSBC, Puneet Chaddha says, “He becomes a defaulter. The course of action after that, depends on the amount that is outstanding, past track record and the person’s profile or profession.” The customer is then […]