Household HSBC Watch

Here is a report that details how HSBC Auto in San Diego actually conducts business. Since HSBC decided to exit the auto financing business, we say “good riddance.” This is a shabby way of doing business. We have many reports on file from years past, and little has changed. The following […]

Standard Chartered bank delivered a sparkling first six months, raising profits before tax by 32 percent. Increasing costs were all but totally offset by an increase in income, driven mostly by Standard Chartered’s wholesale-banking business. It is a far cry from the 29 percent tumble in earnings reported Monday by rival HSBC. HSBC policy […]

HSBC Holdings Plc, Europe’s biggest bank by market value, may report its sharpest decline in profit since 2001 as costs for bad U.S. loans increased. Another fine job by HSBC in the United States while helping to ruin the U.S. economy, devastate inner cities and destroying confidence in subprime markets around the world. HSBC, […]

HSBC, the troubled investment bank, has come under renewed scrutiny from financial regulators for its role in a controversial dawn raid on shares in OMX, the Swedish stock exchange. Borse Dubai was last week censured by the Swedish financial regulators for failing to follow so-called best-practice rules when it built up a big stake […]

Recent problems in the subprime sector spread around the world very quickly. Then the problems spread to Alt-A mortgages. Cash strapped borrowers with second mortgages and adjustable rate mortgages caught the attention of the world. By the morning of August 9, 2007, something else caught the attention of investors around the world. […]

In the U.K. tens of thousands of new graduates will be hit by overdraft interest payments after HSBC announced plans to become the first high street bank to scrap free borrowing for university leavers.

Traditionally, banks allow new graduates a three-year interest-free period on their student overdrafts so they can clear the balance. But students […]

August 23, 2005 By Joe Morgan — THE market for sub-prime mortgages is growing at double the rate of the mainstream market. Mainstream mortgage lending rose by 4.5 per cent last year, while the sub-prime market enjoyed growth of 9.1 per cent, amounting to £41.2 billion of lending, according to Datamonitor. The […]

Metris was created in 1998 when it was spun off from catalog retailer Fingerhut Cos. The company’s marketing of credit cards to lower-income households in the late 1990s and early 2000s increased defaults and delinquencies, leading to combined losses of $149.3 million in 2002 and 2003. HSBC Finance Corporation bought Metris, as announced […]

August 3, 2005 - According to MortgageDaily.com, Ameriquest’s parent company, ACC Capital Holdings Corp., is the nation’s largest subprime lender, based on $82.7 billion in mortgage volume in 2004, including $3 billion in Massachusetts. Subprime loans are for people with credit scores too low for them to qualify for a traditional mortgage.

The litigation parallels charges […]

Best Buy Consumer Electronics and the predatory Best Buy credit card, as reported by a customer on 2 August 2005. Please READ CAREFULLY:

“I have had a Best Buy account for at least 5 years, I have not experienced any issues until today. However, what happened today / this month is truly unbelievable.
I had […]