Household HSBC Watch

It seems like the Irish are not the only HSBC employees losing jobs. HSBC’s Livingston call center is closing. The bank said that although the staff would hopefully be absorbed within the company’s Scottish workforce it is no longer cost effective to keep the West Lothian location open. HSBC admitted that some […]

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 […]

Bankruptcy laws were changed and strengthened in 2005. Then greedy banksters, mortgage brokers, and lending companies felt safe. They could do whatever they wanted to do, since it was harder to declare bankruptcy. Nationally, the total number of bankruptcies filed in the first half of 2008, however, rose 29.2 percent, to 522,205, […]

We received this report today. That is all we are going to say about the origin.
“I am unfortunately a current employee of HSBC working in the HFC division. Let me say that I apologize to all of you out there that have unknowingly fallen into the hands of this evil company. As […]

Not too long ago a finance company like CitiFinancial, Beneficial Finance, or HFC could loan to people with less than perfect credit. Some loans would make money. Then greedy bankers and predatory brokers exploded the practice, and subprime was born. It changed the dictionary. Therefore it is proper to say that […]

HSBC made the news again. This time it was an article about home equity lines of credit — or the fact that such credit lines are frozen or gone all together. When Denise Lopez bought two new tables, a floor lamp and a chair recently, her intent was to finance it with her […]

In February 2008 Niall Booker became Chief Executive Officer of HSBC Finance Corporation. He will also succeed Brendan McDonagh as Chief Operating Officer of HSBC North America. In March 2007 HSBC Holdings appointed experienced and long-serving banker Niall Booker as chief operating officer, according to a company statement. Is Booker experienced in consumer […]

What is the relationship between HSBC and their regulator, The Office of the Comptroller of the Currency? Keep in mind that HSBC spends millions on lobbying and has hired former OCC executives in the past. Here is an example of that relationship.

This is part of a public records document written September 29, 2006 […]

HSBC said the bank would export the business model of Household International, purchased by HSBC in 2003. As disturbing as it sounds, HSBC bragged about exporting the so-called “Household Model” even though history will show the model as a predatory lender. Subprime losses in the billions of dollars showed a failure. Pragati […]

We received this telling information in a note today: “I have an HFC second mortgage and a credit line which HSBC moved to Beneficial.” Is HSBC making Beneficial look better than HFC? Or does the statement mean that HSBC moved the person’s second mortgage and the person’s credit line (both of them) […]