HSBC most likely is exposed to failed Lehman Brothers said Forbes recently. “HSBC especially, is “likely exposed” because of its active off-balance-sheet activities in the credit derivatives market and exposure to the United States and United Kingdom, said Daniel Tabbush, a regional banking analyst for CLSA.”
Things have been quiet at HSBC. With […]
Republicans and Democrats are at odds over the proposed US bank baliout, estimated to cost USD$700 billion. Both sides agree on one issue. Neither side likes the idea of foreign banks, like Britain’s Barclays, RBS and HSBC and UBS from Switzerland, being able to dip their hands in Paulson’s pot. One website […]
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 […]
The Manchester Evening News (see) reported something we already knew. BARCLAYS, HSBC, Lloyds TSB and NatWest all offer below average customer service, according to the latest Which? Money current account survey. They also continue to offer paltry amounts of interest on credit balances. Just look at our own survey, located to […]
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 […]
A reader in Kentucky said: “I did a Google search using the term “History of HSBC Computer Problems” and found several entries. It appears that HSBC has had at least 1 major computer crash every year since 1999. Not all crashes included all customers or departments, but all were major and took […]
According to daily banking industry news Industrial and Commercial Bank of China (ICBC) has overtaken HSBC as the world’s most profitable bank. HSBC slipped from its leading position with net profit of $7.72 billion for the six months to the end of June, down nearly 29% (from $10.9 billion) in the same period of […]
What is going on at HSBC USA? On Monday, customers reported that the online banking system was down, with no way to access accounts over the Internet. That access was later restored, but the balances were still not being updated Tuesday evening. This is another failure following Sunday’s failure that effected deposits and […]
HSBC Bank USA is still scrambling to recover after its core banking computer system mysteriously crashed Sunday, preventing it from recording withdrawals and deposits, and wreaking havoc on consumers and businesses nationwide. Computer crashes and angry merchants are nothing new for HSBC. I’m sure there is a battle plan in place to put […]
With foreclosures on the rise, billions in losses, and hundreds out of work as HSBC closes branch offices and their auto finance business, here is a “fresh” idea from HSBC. Let them listen to music. It is similar to “let them eat cake” but with a twist. ( Jean-Jacques Rousseau wrote, “At […]
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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.
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