A group which included HSBC Finance Director Douglas Flint said every idea people have concerning the cause of the subprime mortgage crisis is worng. Oh really? It had nothing to do with lax lending standards and greedy mortgage broker? Not according to this group of financial wizards. Forget about CDO, CDS, […]
We are not sure how this will reflect on HSBC and their big push for Islamic banking but it is nice to see HSBC is also a correspondent bank for Israel. In France big problems for Societe Generale continue, but HSBC is interested in the bank. Perhaps HSBC will try to buy their […]
HSBC’s mortgage-related troubles may not be over, however. Goldman Sachs Group Inc. analyst Roy Ramos, wrote on November 24 that the bank may have to write down an additional $12 billion at its Household International Inc. unit. The bigger the banking institution, the bigger the clean up (excerpt). HSBC’s credit card business may also […]
Updated: 09/20/07 6:56 AM - HSBC Bank USA will pay $10.5 million in fines and penalties to the Securities and Exchange Commission for negligently allowing its name and logo to be used in connection with an alleged Miami-based investment fraud targeted at Central and South American investors.
Under the settlement agreement announced Wednesday, the U.S. […]
As part of its continuing evaluation of risk, HSBC monitors activities relating to Cuba, Iran, Myanmar, North Korea, Sudan and Syria. HSBC’s business activities include correspondent banking services to banks located in some of these countries and private banking services for nationals of, and clients domiciled in, some of the above countries. The Group has […]
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 […]
What HSBC refuses to reveal now be in the hands of the U.S. government.
WASHINGTON — The U.S. government gained sweeping access to international banking records as part of a secret program to choke off financial support for terrorism, officials said Thursday. Treasury Department officials said they used broad subpoenas to collect the […]
HSBC’s Global Transaction Banking Services business today announced it will provide clients a centralized-secure payment service across Canada, the United States and Mexico. The payment service from one of the world’s largest financial institutions is geared toward clients that need to make payments to trading partners within North American Free Trade Agreement (NAFTA) countries. It […]
A woman reported a recent experience with Compass Bank in Alabama. Normally Household - HSBC Watch does not publish information unless it pertains to HSBC, theri personnel, or former executives. In this case, however, it appears as though Compass Bank took an idea from predatory lender Household International. Regarding high fees and […]
The Treasury Department this week launched the first meeting of the newly created Consumer Financial Protection Forum which was established to focus exclusively on financial consumer concerns and to provide a permanent forum for communication between federal and state regulators on these issues.
The Forum is chaired by the Treasury Department and participants include the federal […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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