Household HSBC Watch

Subject to regulatory approval, HSBC Bank Canada announced Monday a plan to create a unified corporate structure by buying HSBC Financial Corporation Ltd. from a U.S. affiliate by year-end in an internal transaction following a review of North American operations. All of the financial guarantees between HSBC Finance Corp. and HSBC Financial […]

Isn’ this sweet: The Hongkong and Shanghai Banking Corporation (HSBC) Ltd in Bangladesh has awarded the winners of the HSBC Wedding Loan Promotion through a small ceremony held in Sylhet recently. We propose a promotion in the United States. It would be called the ‘HSBC Process Your Payment Correctly’ promotion. That […]

The following information pertains to the right to recind an agreement between HSBC and a customer. It is quite lengthy, but very interesting. The information comes from the FTC and OCC, respectively, according to the submitter. Case law is included:

I. TILA & Res Judicata
(Analogous to Mr. Curtis xxxxxx , […]

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 […]

HSBC said on Friday, July 27, it had sold its 19 percent stake in iBusinessCorporation.com Holdings Ltd to Cheung Kong (Holdings) Ltd for HK$6.98 million ($895,000). iBC.com is a joint venture company established by four parties in early 2000 to facilite e-commerce on the Internet.

“This won’t be the last sale for HSBC” said […]

HONG KONG — HSBC Holdings PLC plans to restructure its personal-banking operation in Hong Kong and the Asia Pacific region into two separate operations, Ta Kung Pao reported Tuesday. The newspaper cited Hongkong & Shanghai Banking Corp. Chairman Vincent Cheng as saying the split will make it easier for HSBC to focus […]

Anyone who thinks HSBC is not bleeding because of HSBC Finance Corporation, formerly know as predatory lender Household International, is sadly mistaken. The industry, and ripples through the entire U.S. stock market and financial industry show otherwise.

Anxiety intensified Friday about the toll the sub-prime mortgage meltdown is taking on the financial industry at large, […]

A look at some of the high-profile corporate scandals of recent years and the status of legal action in each.

QWEST COMMUNICATIONS INTERNATIONAL INC. _ Former Qwest CEO Joseph Nacchio is indicted Tuesday on 42 counts of insider trading accusing him of illegally selling off $101 million in stock. In July, Robin Szeliga, former CFO, pleaded […]

In a press release that shows HSBC learned well from Shea v Household and continuing questions about HSBC Finance Corporation credit card payments, we find that HSBC can still be “Hong Kong Shanghai” if they want to, but not in the United States:

BEIJING, Nov. 10 (Xinhuanet) — HSBC Holdings Plc., Europe’s largest bank by […]

Sept. 28 (Bloomberg) — Growing Chinese companies will seek to buy those in the U.S., which is a “natural and desirable’’ action because the U.S. needs to attract investment from abroad, said the chairman of HSBC Holdings Plc’s Asia unit. “It is natural and desirable Chinese companies acquire assets in the U.S.,’’ Vincent Cheng, […]