WK in Illinois said: “I have followed the entries on your website for several years and I can understand why HSBC customers and employees feel the way they do. I was employed at HSBC for 10 years in the HFC and Retail Services divisions of Household International which later became HSBC Finance. […]
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 […]
It has been ten years since consumer advocates started Household - HSBC Watch. Sometimes we wonder where the years went. Ten years ago we started a single web page on a free server. Now we have over 3000 visitors every day. Part of the traffic obviously is a result of the […]
Although the credit quality problems at HSBC Finance appear to have tempered management’s enthusiasm for cheap acquisitions of distressed assets, HSBC wasted no time in complaining about wording in the US government $700 Billion bailout. The issue was the wording of “Headquarters in the United States.” As lawmakers and Financial chiefs worked on […]
Independencia, a specialist lender to low income Mexican families with more than 1 million clients — read as Subprime — is on their own. HSBC Holdings Plc said on Thursday it is selling its entire 18.68 percent stake in Mexican consumer lender Financiera Independencia to JPMorgan for 1.568 billion pesos (USD$145 million). If […]
HSBC Holdings PLC isn’t interested in buying Morgan Stanley, a person familiar with the bank said Friday. “HSBC has made clear in the past that buying an investment bank is not on its agenda,” the person added. “HSBC feels Morgan Stanley is not worth pursuing.” It appears as though HSBC is not interested […]
We saw this on September 16th: “Investment banks must move quickly to strengthen their balance sheets and address their lack of funding if they are to come out of the current financial crisis unscathed, a senior banker at HSBC has warned.” A warning from HSBC? Acting like a global authority HSBC fails […]
In a lesson plan, designed to teach about predatory and subprime lending, we asked this question of students in 2005: “What is the impact on a country’s economy if predatory lending is left unchecked?” Three years later the answer is clearly obvious. As of today the world has seen over $515 billion […]
Stephen Green of HSBC seems to lack an overall understanding of HSBC Finance. Speaking to the BBC, Mr Green commented: “There has been far too much focus on payments that are very short-term focused, people who pick up the tab for short-term profits, without having to bear the costs of long-term impairments.” Sorry […]
No doubt HSBC is interested in buying Lehman Brothers. Remember the iPhone mis-information? While the Australian MIS officer said HSBC could replace Blackberrys with iPhones, London said the opposite. Regarding the Lehman deal the opposite strategy is perhaps true. No word from London, while the HSBC Asia chief executive officer speaks […]
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An open letter to HSBC, Knight Vinke and Stephen Green
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
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