Household HSBC Watch

In a lesson plan, designed to teach about predatory and subprime lending, we asked this question of students in 2005: “What is the impact on a country’s economy if predatory lending is left unchecked?” Three years later the answer is clearly obvious. As of today the world has seen over $515 billion […]

HSBC needs the money. If there is an possible away, HSBC Finance would like to raise your HSBC crdit card rate to 30.99 percent or higher. excuses to customers are questionable at best. With no ‘late-30’s’ and timely payments, HSBC told one customer “you have a lot of bills” and raised […]

there was no warning and HSBC will contact existing customers. This is just in, thanks to a report that called our attention to the matter. “HFC Bank Ltd has closed its operation to new customers in the Republic of Ireland with effect from August 28th 2008. Existing customers can contact Customer Services on […]

Bankruptcy laws were changed and strengthened in 2005. Then greedy banksters, mortgage brokers, and lending companies felt safe. They could do whatever they wanted to do, since it was harder to declare bankruptcy. Nationally, the total number of bankruptcies filed in the first half of 2008, however, rose 29.2 percent, to 522,205, […]

The difficulties of operating in unstable emerging markets was demonstrated this month when HSBC, amid an invasion by Russian forces, removed the family of its chief executive in Georgia from Tbilisi, two months after the bank’s $17 million start-up in the city had opened. HSBC said that it remained committed to operating in Georgia. […]

With the United States in a recession the double-speak is interesting. Some call the recession of 2000-2001 a “mini-recession.” Now HSBC’s Douglas Flint has a “technical recession.” HSBC finance director Douglas Flint said: “The issue now is the US slowdown and whether it enters a technical recession, and what that does to […]

We received this report today. That is all we are going to say about the origin.
“I am unfortunately a current employee of HSBC working in the HFC division. Let me say that I apologize to all of you out there that have unknowingly fallen into the hands of this evil company. As […]

HSBC is heavily exposed to credit card assets. In that light, it is similar to Capital One, which earlier this year slashed its earnings estimates by over 20 percent due to high default rates and building losses. We see potential for a negative impact to HSBC’s earnings from this exposure as well. HSBC credit […]

According to the Guardian: “Couples who lost their wedding presents when online gift service Wrapit went into administration are planning to demonstrate outside the head office of HSBC this afternoon. The gift list firm closed on Monday after it failed to find a rescue deal, leaving up to 2,000 couples without presents that […]

Once again HSBC attracts attention somewhere while trying to get away with something. This time it is not in the Unted States, where HSBC Finance seems to attract more attention than the rest of HSBC around the world put together. GRTU is accusing HSBC and BOV of “abusing their dominant market position and […]