Household HSBC Watch

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 […]

HSBC, the bank that offered a “rescue” mortgage deal to help homeowners facing surging repayments, is hitting the same borrowers who take up the deal with arrangement fees of up to £9,999. It has emerged that after an increase last Wednesday in the fees charged for taking out the deal, the maximum fee for […]

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 […]

An identity theft ring that involved the personal information of 10,000 credit card holders was busted in New Jersey, federal authorities said today. Four men arrested by the U.S. Postal Inspection Service are expected to be arraigned at 2:15 p.m. this afternoon in federal court in Newark. A fifth suspect is at large. […]

The activist shareholder group Knight Vinke today accelerated its attack on the management of HSBC with a fresh call to “grasp the nettle” and tear up its existing strategy. Clearly HSBC’s strategy in the United States is not working. Junk mortgages is Wall Street’s fancy name for junk home loans. There are so […]

HSBC USA has established a second nationally chartered bank, based in Maryland, to make it easier for the British-owned bank to expand its U.S. branch network. The new HSBC National Bank USA is a sister to Delaware-based HSBC Bank USA, which now operates all but one of HSBC’s U.S. branches, including all of […]

Stephen Prentice, vice president and distinguished analyst at Gartner, told vnunet.com that the existing financial services industry was unlikely to exist in 20 years’ time.

“Ten or 15 years ago, people trusted banks. Nowadays banks in the UK realise that most of their customers don’t actually trust them. They don’t even like them. They only […]

BROKEN PROMISE: HSBC has reneged on a a vow that its satandard variable rate would not go higher than 1% above base rate.

Anyone taking out a mortgage with HSBC since March will have been told their loan will revert to the bank’s variable rate at 1.25% above base when their current deal […]

Boscov`s Department Stores, based in Reading, Pa., has agreed that HSBC-North America`s retail services business will run its credit program.

BDS customers will continue to accrue purchase points and enjoy other features of their existing Boscov cards, BDS said Thursday. BDS is the largest full-line, family-owned independent department store in the country, operating 40 stores in […]

HSBC Bank (Malta) plc have launched a new finance scheme aimed at both prospective and existing boat and yacht owners. The Yacht Finance Scheme is the first Maltese banking product that is specifically designed to finance or refinance boats and yachts.

Speaking at the launch yesterday, HSBC chief executive officer Shaun Wallis said that Malta is […]