Household HSBC Watch

This time state attorney’s general are asking HSBC Finance for something other than evidence of predatory lending. They are asking for help. What will be the result if requests are ignored? History shows that HSBC Finance was Household International, which was purchased by HSBC in 2003. Prior to that Household was […]

This is published exactly like we received it. TG in California said: “I’m a happy and proud employee of HSBC in California. I see the positive impact we make on our customers lives every day. I regularly read postings on your site and am stunned and the lack of accuracy and fairness here. […]

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 […]

It is one thing to buy a predatory lender — Household International — but quite another to cotinue the business practices almost unchanged. HSBC is still one of the biggest subprime lenders in the United States. As a result, lawmakers sent a letter to HSBC asking the lender and mortgage servicer to help […]

A total of $5 trillion of mortgage loans, or almost half of the nation’s home loans, belong to “risky asset categories’’ such as subprime and Alt-A, Gross of Pacific Investment Management Co. said Bill Gross, who manages the world’s biggest bond fund. A commentary is posted on the firm’s Web site today. HSBC and […]

It seems the FSA is busy in London. What theme seems to run through this article? It suggests there is a big difference between Islamic Finance in the Middle East and people named Mohammed running fraud schemes in London. In March, the FSA banned Andrew Talai Kiplimo, a mortgage introducer (a person […]

Here at Household - HSBC Watch we receive complaints every day. Some involve pre-payment penalties on home loans that trap the buyer, preventing refinancing or otherwise putting the buyer upside down in the home. That may soon change according to Federal Reserve Chairman Ben Bernanke.

“Although the high rate of delinquency has a number […]

NAACP members are raising awareness about lending discrimination at 17 lending institutions. HSBC released the following statement regarding the NAACP to Eyewitness News: “HSBC Finance Corporation does not comment on litigation. However, at HSBC Finance Corporation, we take our fair lending and consumer protection practices very seriously, and we are confident that we […]

There is a vast difference between true global bankers who once had branches aboard the luxurious Cunard Lines, and the finance company logic of embarassed former predatory lenders. I am old enough to remember true bankers in England, the Cunard Steamship Lines, and such professionalism. I am also old enough to remember when […]

HSBC Finance signs unsuspecting persons to home loans, only to foreclose and own the property. Is the same logic applied to HSBC Towers? Spanish ownership of the £1.1bn HSBC Tower is under threat after it emerged the owners were struggling to meet a deadline to refinance debt on the building. Metrovacesa, the […]