Household HSBC Watch

HSBC Holdings and an unidentified Chinese bank are among potential buyers of Lehman Brothers, South Korea’s Chosun Ilbo newspaper reported on Wednesday, citing a financial industry source. State-owned KDB confirmed on Tuesday it was in talks with Lehman. Lehman prefers KDB over other contenders as KDB plans to keep its current management after […]

We received this editorial via email: I believe H.S.B.C. to be a fine institution. The problem is they purchased Household International whose Management had failed, then allowed them to stay in power. The same management ran it into the ground the first time and now they are doing it all over again […]

In the US Banker section of American Banker, we spotted an interesting line: “The concern was, ‘How much subprime do you do? What is your risk of having what Household (International) had?’” It was a question asked of Richard Davis, CEO of U.S. Bancorp, in February 2007. HSBC bought Household in […]

This is published exactly like we received it. TG in California said: “I’m a happy and proud employee of HSBC in California. I see the positive impact we make on our customers lives every day. I regularly read postings on your site and am stunned and the lack of accuracy and fairness here. […]

Concerns of a global economic slowdown, tensions over Iran and selling by foreign investors across several Gulf Arab bourses depressed regional benchmarks. Stocks also fell on reports the Central Bank of the United Arab Emirates is planning to tighten rules on lending to help rein in inflation. “To be honest, the whole atmosphere in […]

This is another update from our friend Curtis: “Please be advised of the following. I am currently involved in taking legal action against HSBC Mortgage Services Inc. in Brandon Florida.

My current mortgage was audited and found to be in violation of TILA, RESPA, HOPA and the Fair Trade Practices Act. The loan as […]

A former employee of HSBC in Florida sent us this opinion: “Ex-employee from HSBC, parent company of HFC/Beneficial collections team. First I would like to straighten some facts about prior to my bashing. This company is a pay for performance company and each employee has the bonus options. The better you […]

HSBC, the bank that offered a “rescue” mortgage deal to help homeowners facing surging repayments, is hitting the same borrowers who take up the deal with arrangement fees of up to £9,999. It has emerged that after an increase last Wednesday in the fees charged for taking out the deal, the maximum fee for […]

Once upon a time — back before the crying, wailing, and sobs of subprime lending — HSBC plc said the bank did not spend money on lobbying and attempts to influence legislation. Certainly William F. Aldinger spent money to do so in the United States, as his predaotry little company (Household International) was purchased […]

HSBC chairman Stephen Green said the US sub-prime crisis has forced banks into a ‘profound and secular’ rethink of their lending practices. That is a good idea that we have been harping on since the 1990’s. The United States government was harping on it too, leveling charges of predatory lending against Household […]