HSBC Securities Services is known to be Lehman’s trustee across multiple jurisdictions, said Asian Investor. “The current crisis will no doubt put its trustee function to its most strenuous test to date. After multiple calls to various business heads of the group, no one has been able to respond to AsianInvestor’s question on what […]
We received this editorial via email: I believe H.S.B.C. to be a fine institution. The problem is they purchased Household International whose Management had failed, then allowed them to stay in power. The same management ran it into the ground the first time and now they are doing it all over again […]
In another move designed to alienate customers HSBC will stop paying interest on current accounts. Not satisfied will aggravating customers in the United States with computer malfunctions that delayed direct deposits, HSBC found a way to anger even more customers. It is a trait learned from HSBC Finance. Granted, not paying […]
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 […]
Here is an interesting HSBC article from London:
Britain’s biggest bank is diverting poorer customers to foreign call centres while more profitable clients are dealt with in the UK. HSBC has admitted filtering calls from its 8.5million customers with current accounts and transferring them after assessing factors such as monthly income and credit rating.
The […]
LONDON (Reuters) - HSBC Holdings has become the first major bank to say it will start charging for a current account, raising the prospect that other lenders will end free banking.
HSBC’s online banking arm First Direct is to charge 10 pounds per month for customers who do not deposit 1,500 pounds per month or maintain […]
As recently as one year ago HSBC refused to provide regulators with international banking information. Sources close to many investigations knew or suspected HSBC was aiding terrorism, money laundering, and other related issues. Taking lessons from predatory lender Household International, now owned by HSBC, the bank simply refused to answer questions. […]
HSBC will drop the rates on some savings products and business accounts and increase the overdraft rate on all its current accounts. Rates will drop on all cash Isas, Flexible Saver and Instant Access Savings accounts. All business account holders will suffer a drop in their interest rate and overdraft rates are […]
Kurt Eggert, a Chapman University Law School professor who has analyzed sub-prime loan collection abuses for the Fannie Mae Foundation, said unscrupulous loan servicers exploit the fact that borrowers in this market are expected to have financial problems and miss mortgage payments.
Opportunistic servicers mishandle tax and insurance accounts, impose high-priced hazard insurance on homeowners who […]
KUALA LUMPUR: HSBC Insurance (Asia Pacific) Holdings Ltd expects its joint-venture with Jerneh Asia Bhd and the Employees Provident Fund (EPF) as a takaful operator to be profitable in three to five years.
Zarir J Cama
“The prospects are huge, given the scope and potential of the local insurance market, which is, by many accounts, still […]
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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.
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