Like rats from a sinking ship the news was again bad for HSBC today. Federal and state banking regulators on Tuesday said they would step up their scrutiny of lenders that make home loans to people with shaky credit, focusing on companies that operate outside federal banking oversight. That means focusing on HSBC […]
A promotion in February and dismissed by July is sad news for David Gibbons of HSBC. One must ask if Gibbons was hired for his connections with the OCC, a bank regulator, or his ability. One thing is for sure - Gibbons did not see the risk at HSBC Finance, formerly known as […]
Innner City Press posted this. ( See their full article)
Update of September 19, 2005: Guess who’s been a correspondent for Macau’s Banco Delta Asia, named last week as a money launderer for North Korea, and a primary money-laundering concern? HSBC, of course — the world’s standardless bank. According to The Standard, Banco Delta Asia […]
When David Gibbons was employed by the OCC he said: “Banks should be sure their credit risk control processes are adequately staffed and appropriately empowered to point out where risk is rising in these portfolios, and to tell managers what they need to hear.”
The main point, as made by the OCC […]
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