Rep. Brad Miller, who—along with a handful of other Democrats—is urging the mortgage industry to delay certain foreclosures until the FHA’s “Help for Homeowners” gets going. The program is a key component of the new housing legislation and is intended to help struggling barrowers stay in their homes. Brad Miller contacted HSBC Finance. […]
Even bankrupt lenders are looking for a new approach to lending. One subprime lender, the bankrupt Delta Financial, is reemerging as a lender of FHA mortgages and other “alternative” products. The company’s former chief executive, Hugh Miller, along with a small group of former Delta executives, is launching Reliance First Capital, a mortgage company […]
If Arab nations have money and the United States is no longer profitable just refocus. If Islamic finance seems attractive in the U.K. and U.S. just focus on your new new friends. That is the business model for HSBC - the Hong Kong Shanghai Bank, headquartered in London and doing business in […]
Paul Hand, global banking co-head at HSBC Holdings Plc, will leave after 21 years with Europe’s biggest bank, following a flurry of senior departures in Asia and Europe, an internal memo given to Bloomberg News showed. Hand will leave at the end of the year to pursue interests outside banking, according to the […]
Knight Vinke, the high-profile shareholder activist group, has told HSBC that it “has an issue with its strategy” and has held talks with the global banking group’s finance director about a complete review of the bank’s direction. The activist shareholder, which has secured the support of Calpers, the Californian state pension fund, is […]
Here is positive proof that a person can be successful after running a subprime operation for HSBC while losing billions of dollars. Originally with Household International, which was charged with predatory lending and later purchased by HSBC, many thought Siddarth (you can call me Bobby) Mehta was in over his head. Mehta was […]
HSBC Australia chief executive Stuart Davis said HSBC likes his credit cards. A year ago the bank introduced a credit card system developed by the group’s US finance company subsidiary Household International (now called HSBC Finance Corporation).
Davis said it had made a big difference to the business. “It has given us a lot […]
HSBC Holdings shares are undervalued due to unjustified concern over the risk to Europe’s biggest bank from problems with its U.S. mortgage lending, major shareholder Dubai International Capital said on Monday. Sameer al-Ansari, chief executive of Dubai International Capital, which manages more than $7 billion of funds belonging to Dubai’s ruling family, said HSBC […]
The following HSBC press release is somewhat deceiving. There is no HSBC Bank in Prospect Heights Illinois. Prospect Heights is home to HSBC Finance Corporation, formerly known as predatory lender Household International. Perhaps Mr. Bruce J. Hammersley and Civis Financial Group would like you to think otherwise, judging by the press […]
MICHAEL Geoghegan, chief executive at HSBC, has knocked back calls for Britain and Europe’s biggest bank to break itself up. Instead, he said that he would be working to see the various operations of the bank link together better, which could see a halving of staff at its London headquarters.
Consumer advocates in […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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