Household HSBC Watch

With the United States in a recession the double-speak is interesting. Some call the recession of 2000-2001 a “mini-recession.” Now HSBC’s Douglas Flint has a “technical recession.” HSBC finance director Douglas Flint said: “The issue now is the US slowdown and whether it enters a technical recession, and what that does to […]

HSBC is in a push to grow its lending to middle-market businesses nationwide by targeting firms that need its international capabilities. Whether these firms (businesses) need HSBC services remains to be seen. We are certain HSBC will then push the businesses for HSBC credit card processing and HSBC merchant - private label - […]

We just could not report this HSBC item fast enough. First, here is part of the stunning press release: “In the latest round of their highly successful breakfast seminars, HSBC Actuaries and Consultants will look at salary sacrifice programmes and how employers can use these to their advantage.” If your board members […]

Iran has withdrawn around $75 billion from Europe to prevent the assets from being blocked under threatened new sanctions over Tehran’s disputed nuclear ambitions, an Iranian weekly said. Where will Iran put the money? We researched news articles from Manama Bahrain and other Middle East nations. We must raise the question on […]

National financial organization HSBC North America Holdings Inc. is closing a subsidiary operation in Jacksonville Florida and laying off approximately 240 employees. The facility on Vantage Way South supported the HSBC Finance Corp. Card & Retail Services. Employees were notfied last week and they were given a 60-day notice. This action […]

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 can submit as many press releases about planting trees, green offices, and gifts for credit card holders as they desire. Did HSBC ever think that those cute articles are negated by real news? For example, this article is quite astonishing: “Security-incident prone bank HSBC has admitted losing a server containing transaction […]

Neiman Marcus has settled a lawsuit with HSBC Finance, the operational unit of HSBC formerly known as Household International. The lawsuit pertained to private label credit cards - the cards issued by HSBC Finance (HSBC NV) containing the Neiman Marcus name instead of HSBC’s name. Part of HSBC’s private label credit card agreements […]

Here at Household - HSBC Watch we thought HSBC was operating blindly before the mortgage crisis hit. Here is more evidence to that fact. Mining company First Quantum Minerals Ltd is suing HSBC Bank Canada for negligence and breach of contract, claiming that the bank recommended investing in asset-backed commercial paper shortly before […]

Isn’ this sweet: The Hongkong and Shanghai Banking Corporation (HSBC) Ltd in Bangladesh has awarded the winners of the HSBC Wedding Loan Promotion through a small ceremony held in Sylhet recently. We propose a promotion in the United States. It would be called the ‘HSBC Process Your Payment Correctly’ promotion. That […]