HSBC PLC leads the list of top losers so far today and is now at $76.87, down $2.44 (-3.08%) on volume of 1,013,233 shares traded. Part of the problem for HSBC comes from the IMF, which said subprime issues will continue and may actually get worse. HSBC became of of the leading subprime […]
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 […]
HSBC is in a push to grow its lending to middle-market businesses nationwide by targeting firms that need its international capabilities. Whether these firms (businesses) need HSBC services remains to be seen. We are certain HSBC will then push the businesses for HSBC credit card processing and HSBC merchant - private label - […]
Once upon a time — back before the crying, wailing, and sobs of subprime lending — HSBC plc said the bank did not spend money on lobbying and attempts to influence legislation. Certainly William F. Aldinger spent money to do so in the United States, as his predaotry little company (Household International) was purchased […]
Global Payments Inc., a provider of electronic transaction processing solutions, announced it has agreed to form a joint venture with HSBC Bank plc to provide payment processing services to merchants in the United Kingdom and Internet merchants globally. The new company will operate under the name HSBC Merchant Services. The big question is whether […]
HSBC can submit as many press releases about planting trees, green offices, and gifts for credit card holders as they desire. Did HSBC ever think that those cute articles are negated by real news? For example, this article is quite astonishing: “Security-incident prone bank HSBC has admitted losing a server containing transaction […]
Neiman Marcus is facing off with HSBC Finance - formerly known as predatory lender Household International. What do Neiman Marcus customers have in common with subprime, predatory lending, and late application of payments? Absolutely nothing, but Neiman Marcus selected HSBC Finance as their private label credit card processor. We questioned the move […]
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 […]
Analysts at Household - HSBC Watch predicted credit card problems at HSBC Finance. Today Moody’s announced what we suspected. HSBC Finance, formerly Household International, is now having problems with credit card defaults. Moody’s Investors Service on Tuesday changed its outlook on HSBC Bank USA, part of HSBC Holdings Plc, to negative […]
In a presentation to analysts by Stephen Green, Chairman of HSBC, for the first time Green admitted that Household had been an essentially disastrous acquisition, that not all other diversifications had been successful, and that total shareholder return had underperformed peers. Household International is now called HSBC Finance, and HSBC previously said it […]
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An open letter to HSBC, Knight Vinke and Stephen Green
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
We are not associated with HSBC, Household International, or their merchants.
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