Household HSBC Watch

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 […]

Here is a report that details how HSBC Auto in San Diego actually conducts business. Since HSBC decided to exit the auto financing business, we say “good riddance.” This is a shabby way of doing business. We have many reports on file from years past, and little has changed. The following […]

HSBC needs the money. If there is an possible away, HSBC Finance would like to raise your HSBC crdit card rate to 30.99 percent or higher. excuses to customers are questionable at best. With no ‘late-30’s’ and timely payments, HSBC told one customer “you have a lot of bills” and raised […]

In another move designed to alienate customers HSBC will stop paying interest on current accounts. Not satisfied will aggravating customers in the United States with computer malfunctions that delayed direct deposits, HSBC found a way to anger even more customers. It is a trait learned from HSBC Finance. Granted, not paying […]

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, […]

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 […]

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 […]

As many as 8,000 employees of Catholic Health System have been unable to get their paychecks through direct deposit this morning due to the ongoing computer problems at HSBC Bank USA. Do you have direct deposit of your paycheck or retirement check at HSBC? There is a chance you may not have […]

A study conducted by Citizens for Equal Access to Credit found that a large percentage of subprime credit card users improved their credit rating within a two-year period. Based on a study of 360,000 card users, at least 35 percent of consumers with low-limit credit cards improved their credit scores in two years. […]