What is the relationship between HSBC and their regulator, The Office of the Comptroller of the Currency? Keep in mind that HSBC spends millions on lobbying and has hired former OCC executives in the past. Here is an example of that relationship.
This is part of a public records document written September 29, 2006 […]
National financial organization HSBC North America Holdings Inc. is closing a subsidiary operation in Jacksonville Florida and laying off approximately 240 employees. The facility on Vantage Way South supported the HSBC Finance Corp. Card & Retail Services. Employees were notfied last week and they were given a 60-day notice. This action […]
HSBC Finance is a “pay for performance” company, which means they look out for their best interests, not yours. It also means that mortgage loans in the U.S. followed the same “pay for performance” guidelines. That is part of why we have a subprime crisis today. Here is the report from the […]
Rumors abound about HSBC and HSBC Auto Finance, a subsidiary of HSBC Finance. This is another division that was part of Household International, and thus called HSBC Auto. The main complaint about HSBC Auto concerns lien releases, or the lack of them. It was a problem when Household International owned the […]
HSBC Financial Corp. Ltd. is closing 30 of its 140 small branches in Canada, affecting 300 employees, as it tightens up its lending practices in the continuing credit crunch. Operating separately from HSBC Bank Canada, the loan company is a subsidiary of a similar U.S. operation that has suffered in the U.S. subprime mortgage […]
The U.S. subsidiary of British financial conglomerate HSBC Holdings PLC spent more than $1.3 million in the first half of 2007 to lobby the federal government, according to a recent disclosure form. HSBC once claimed they never lobby for anything and had no lobbying effort. Once against company policy, HSBC found out their […]
HSBC Australia chief executive Stuart Davis said HSBC likes his credit cards. A year ago the bank introduced a credit card system developed by the group’s US finance company subsidiary Household International (now called HSBC Finance Corporation).
Davis said it had made a big difference to the business. “It has given us a lot […]
HSBC USA thought it was a great idea to refinance or finance debt from Household International. Now called HSBC Finance Corporation, it was not a great idea after all. Since HSBC USA and HSBC Finance Corporation share the debts the not-so-rosy picture effects both, and greatly impacts HSBC overall.
Net income for the HSBC […]
HSBC Finance Corporation, a wholly-owned subsidiary of HSBC North America Holdings Inc., said Tuesday it has reached agreement with the shareholders of Solstice Capital Group Inc. to acquire 100% of the privately held US-based mortgage lender.
The transaction is subject to regulatory approval.
Solstice Capital Group, based in Irvine, CA, had gross assets of USD […]
The PNC Financial Services Group Inc., based in Pittsburgh, reported a 10.18% passive stake in HSBC USA Inc.
According to documents filed with the Securities and Exchange Commission, PNC owns 1.3 million shares of the U.S. subsidiary of London-based HSBC Holdings PLC.
Investors who hold shares just for passive investment purposes and do not influence the […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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