Household HSBC Watch

This time state attorney’s general are asking HSBC Finance for something other than evidence of predatory lending. They are asking for help. What will be the result if requests are ignored? History shows that HSBC Finance was Household International, which was purchased by HSBC in 2003. Prior to that Household was […]

Rep. Brad Miller, who—along with a handful of other Democrats—is urging the mortgage industry to delay certain foreclosures until the FHA’s “Help for Homeowners” gets going. The program is a key component of the new housing legislation and is intended to help struggling barrowers stay in their homes. Brad Miller contacted HSBC Finance. […]

A total of $5 trillion of mortgage loans, or almost half of the nation’s home loans, belong to “risky asset categories’’ such as subprime and Alt-A, Gross of Pacific Investment Management Co. said Bill Gross, who manages the world’s biggest bond fund. A commentary is posted on the firm’s Web site today. HSBC and […]

More U.S. banks may fail after the collapse of mortgage lender IndyMac Bancorp Inc, straining a financial system seeking stability after years of lending excesses. More than 300 banks could fail in the next three years, said RBC Capital Markets analyst Gerard Cassidy, who had in February estimated no more than 150. Face […]

In the earthquake shattered region of China people are suffering and donations are being received. The Chinese, however, are saying that major banks such as HSBC are donating very little compared to what they actually make. National Business Daily (NBD) pointed out that these overseas financial firms, which include HSBC, Goldman Sachs, and […]

When news rules are needed or suggested, cause and effect implies abuses prompted the action. At HSBC Finance things could not get much worse for HSBC, and always seem to get worse for customers. That may change as new credit card rules have been proposed. Under the plan, banks could increase […]

Citigroup Inc., HSBC Finance Corp. and seven other companies agreed to help delinquent homeowners in Ohio avoid foreclosure in the first such accord between a state and home-loan servicers, Governor Ted Strickland said. Like alcoholics that keep drinking, the companies pledged to make an effort. Banks and other lenders pledged to modify terms […]

HSBC Holdings Plc’s rescue of its Asscher Finance Ltd. structured investment vehicle will mean 70 percent losses for bondholders including a Spanish unit of Credit Suisse Group. London-based HSBC is restructuring Asscher to prevent it from having to sell assets at fire sale prices to repay maturing debt. Asscher has $5.9 billion of debt […]

Citigroup Inc. is abandoning a push to open as many as 100 branches a year in the U.S., concluding it had little chance to dislodge entrenched rivals in several markets. Barely two years after introducing the strategy, executives at New York based Citigroup now intend to sell or close some of the newest Citigroup […]

Bloomberg, Forbes, and many others are reporting today that HSBC dropped the most in six years in Hong Kong trading on concern it may have to increase provisions for U.S. bad loans after Citigroup Inc. reported a record loss. Although we monitor HSBC and report the news we take no joy from it. […]