A controversial bonus scheme which could net five senior directors of banking giant HSBC more than $240 Million over the next three years has been approved by shareholders, although there was opposition. Only 82 percent of those who voted were in agreement. Eight percent of voters abstained, while 11 percent were in opposition. […]
Federal Board Governor Randall Kroszner spoke to bankers and some called his remarks “scathing.” Read his remarks below and please tell me if this is ’scathing’ or a total misconception of what bankers were doing. The problem as I see it was that profit taking and profit making failed to slam on the […]
We all know HSBC is laying off personnel at Beneficial Finance and HFC offices. That is no secret. How it is being handled is fast becoming public knowledge, as reports are coming in. Some HSBC tactics are alarming. Please evaluate this statement:
“I was a District Sales Manager (executive level position) that […]
Consider the direction taken by Wells Fargo which insulated Wells from the current subprime mess. Now consider the position of HSBC Plc, and specifically HSBC Finance. Consider, if you will, the people facing uncertainty and rumors of layoffs. HSBC Plc failed the employees of HSBC Finance and former Household International employees. […]
HSBC BANK that has offices in 77 countries, claims to be a ’socially responsible corporation’. However, this doesn’t seem to apply to the humanitarian plight of Palestinians living in the Gaza strip and the Israeli occupied West Bank territories.
According to the charity Oxfam, HSBC has charged the European Union (EU) £1.9 million in bank charges […]
In a speech last fall before the Consumer Bankers Association, acting Comptroller of the Currency Julie L. Williams warned her audience that the Home Mortgage Disclosure Act required bankers to publicly report new and more detailed data concerning their home mortgage lending business. Higher-priced loans for the first time had to be reported by race, […]
TESTIMONY OF
ELIOT SPITZER
NEW YORK ATTORNEY GENERAL
BEFORE THE ASSEMBLY STANDING COMMITTEE ON BANKS
REGARDING THE
OFFICE OF THE COMPTROLLER OF THE CURRENCY’S
PREEMPTION OF STATE CONSUMER PROTECTION LAWS
New York, New York
April 16, 2004
Good morning.
I want to thank Chairwoman Nolan and the other members of the Banking Committee for convening this hearing on a topic that is […]
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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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